Carphone Warehouse 2008 Annual Report Download - page 53

www.cpwplc.com 41
Independent Auditors’ Report
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 52 weeks ended 29 March 2008 which
comprise the Consolidated Income Statement, the Consolidated
Statement of Changes in Equity, the Consolidated Balance Sheet,
the Consolidated Cash Flow Statement, and the related notes 1 to 31.
These Group financial statements have been prepared under the
accounting policies set out therein. We have also audited the information
in the Directors’ 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 for the 52 weeks
ended 29 March 2008.
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
Directors’ Remuneration Report and the Group financial statements in
accordance with applicable law and International Financial Reporting
Standards (IFRSs) as adopted by the European Union are set out in
the Statement of Directors’ Responsibilities.
Our responsibility is to audit the Group financial statements in accordance
with relevant 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, whether the Group financial statements have
been properly prepared in accordance with the Companies Act 1985
and Article 4 of the IAS Regulation and whether the part of the Directors’
Remuneration Report described as having been audited has been
properly prepared in accordance with the Companies Act 1985. We also
report to you whether in our opinion the information given in the Directors’
Report is consistent with the Group financial statements.
In addition we report to you if, in our opinion, we have not received all
the information and explanations we require for our audit, or if information
specified by law regarding Directors’ remuneration and other transactions
is not disclosed.
We review whether the Corporate Governance Statement reflects the
Company’s compliance with the nine provisions of the 2006 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 statements on internal control cover 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 other information contained in the Annual Report as
described in the contents section and consider whether it is consistent
with the audited Group financial statements. The other information
comprises only the Directors’ Report and the Chairman’s Statement.
We consider the implications for our report if we become aware of any
apparent misstatements or material inconsistencies with the Group
financial statements. Our responsibilities do not extend to any further
information outside the Annual Report.
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 Directors’ Remuneration Report to be audited. It also includes
an assessment of the significant estimates and judgments made by the
Directors in the preparation of the Group financial statements, and of
whether the accounting policies are appropriate to the Group’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 Directors’ Remuneration Report to
be 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 Directors’ Remuneration Report to
be audited.
Opinion
In our opinion:
• the Group financial statements give a true and fair view, in accordance
with IFRSs as adopted by the European Union, of the state of the
Group’s affairs as at 29 March 2008 and of its profit for the 52 week
period then ended;
• the Group financial statements have been properly prepared in
accordance with the Companies Act 1985 and Article 4 of the
IAS Regulation;
• the part of the Directors’ Remuneration Report described as having
been audited has been properly prepared in accordance with the
Companies Act 1985; and
• the information given in the Directors’ Report is consistent with the
Group financial statements.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
London
11 June 2008
Financial Statements