Carphone Warehouse 2006 Annual Report Download - page 39

We review whether the corporate governance statement reflects the
Company’s compliance with the nine provisions of the 2003 FRC Combined
Code specified for our review by the Listing Rules of the Financial Services
Authority, and we report if it does not. We are not required to consider
whether the Board’s statement on internal control covers all risks and
controls, or form an opinion on the effectiveness of the Group’s corporate
governance procedures or its risk and control procedures.
We read the Directors’ Report and the other information contained in
the Annual Report for the above period as described in the contents
section including the unaudited part of the Remuneration Report and
we consider the implications for our Report if we become aware of any
apparent misstatements or material inconsistencies with the Group
financial statements.
Basis of audit opinion
We conducted our audit in accordance with International Standards on
Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit
includes examination, on a test basis, of evidence relevant to the amounts
and disclosures in the Group financial statements and the part of the
Remuneration Report described as having been audited. It also includes
an assessment of the significant estimates and judgements made by the
Directors in the preparation of the Group financial statements, and of
whether the accounting policies are appropriate to the Company’s
circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information
and explanations which we considered necessary in order to provide
us with sufficient evidence to give reasonable assurance that the Group
financial statements and the part of the Remuneration Report described
as having been audited are free from material misstatement, whether
caused by fraud or other irregularity or error. In forming our opinion we
also evaluated the overall adequacy of the presentation of information in
the Group financial statements and the part of the Remuneration Report
described as having been audited.
Opinion
In our opinion:
•the Group financial statements give a true and fair view, in accordance
with IFRSs as adopted for use in the European Union, of the state of the
Group’s affairs as at 1 April 2006 and of its profit for the 52 week period
then ended; and
•the Group financial statements and the part of the Remuneration Report
described as having been audited have been properly prepared in
accordance with the Companies Act 1985 and Article 4 of the IAS
Regulation; and
•the information given in the Directors’ Report is consistent with the
Group financial statements.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
London
6 June 2006
Independent Auditors’ Report to the members of The Carphone
Warehouse Group PLC
We have audited the Group financial statements of The Carphone
Warehouse Group PLC for the 52 weeks ended 1 April 2006 which
comprise the consolidated income statement, consolidated statement of
changes in equity, consolidated balance sheet, the consolidated cash flow
statement and the related notes 1 to 32. These Group financial statements
have been prepared under the accounting policies set out therein. We
have also audited the information in the Remuneration Report that is
described as having been audited.
We have reported separately on the individual Company financial
statements of The Carphone Warehouse Group PLC.
This Report is made solely to the Company’s members, as a body, in
accordance with section 235 of the Companies Act 1985. Our audit work
has been undertaken so that we might state to the Company’s members
those matters we are required to state to them in an auditors’ report and
for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the Company and
the Company’s members as a body, for our audit work, for this Report,
or for the opinions we have formed.
Respective responsibilities of Directors and Auditors
The Directors’ responsibilities for preparing the Annual Report, the
Remuneration Report and the Group financial statements in accordance
with applicable law and International Financial Reporting Standards (IFRSs)
as adopted for use in the European Union are set out in the Statement of
Directors’ Responsibilities.
Our responsibility is to audit the Group financial statements and the
part of the Remuneration Report described as having been audited
in accordance with relevant United Kingdom legal and regulatory
requirements and International Standards on Auditing (UK and Ireland).
We report to you our opinion as to whether the Group financial statements
give a true and fair view in accordance with the relevant financial reporting
framework and whether the Group financial statements and the part of
the Remuneration Report described as having been audited have been
properly prepared in accordance with the Companies Act 1985 and
Article 4 of the IAS Regulation. We report to you whether in our opinion
the information given in the Directors’ Report is consistent with the Group
financial statements. We also report to you if we have not received all
the information and explanations we require for our audit, or if information
specified by law regarding Directors’ transactions with the Company and
other members of the Group is not disclosed.
We also report to you if, in our opinion, the Company has not complied
with any of the four directors’ remuneration disclosure requirements
specified for our review by the Listing Rules of the Financial Services
Authority. These comprise the amount of each element in the remuneration
package and information on share options, details of long-term incentive
schemes, and money purchase and defined benefit schemes. We give
a statement, to the extent possible, of details of any non-compliance.
Independent Auditors’ Report
www.cpwplc.com 35
Financial Statements
Financial Statements