EasyJet 2008 Annual Report Download - page 45

easyJet plc
Annual report and accounts 2008
We have audited the Group and parent company financial statements
(the “financial statements’’) of easyJet plc for the year ended 30 September
2008 which comprise the Consolidated income statement, the Consolidated
and Company balance sheets, the Consolidated and Company cash flow
statements, the Consolidated statement of recognised income and expense,
and the related notes. These financial statements have been prepared
under the accounting policies set out therein. We have also audited the
information in the Report on Directors’ remuneration that is described
as having been audited.
Respective responsibilities of Directors and auditors
The Directors’ responsibilities for preparing the Annual Report, the Report
on Directors’ remuneration and the 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 financial statements and the part of the
Report on Directors’ remuneration to be audited in accordance with relevant
legal and regulatory requirements and International Standards on Auditing
(UK and Ireland). This report, including the opinion, has been prepared
for and only for the Company’s members as a body in accordance with
Section 235 of the Companies Act 1985 and for no other purpose. We
do not, in giving this opinion, accept or assume responsibility for any other
purpose or to any other person to whom this report is shown or into
whose hands it may come save where expressly agreed by our prior
consent in writing.
We report to you our opinion as to whether the financial statements give
a true and fair view and whether the financial statements and the part of
the Report on Directors’ remuneration to be audited have been properly
prepared in accordance with the Companies Act 1985 and, as regards
the Group financial statements, Article 4 of the IAS Regulation. We also
report to you whether in our opinion the information given in the
Directors’ report is consistent with the financial statements.
In addition we report to you if, in our opinion, the Company has not kept
proper accounting records, if 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 Combined Code
(2006) 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 other information contained in the Annual Report and
consider whether it is consistent with the audited financial statements.
The other information comprises only the unaudited part of the Report
on Directors’ remuneration, Five year summary, Shareholder information
and all of the other information listed on the contents page. We consider
the implications for our report if we become aware of any apparent
misstatements or material inconsistencies with the financial statements.
Our responsibilities do not extend to any other information.
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 financial statements and the part of the Report on
Directors’ remuneration to be audited. It also includes an assessment of
the significant estimates and judgements made by the Directors in the
preparation of the financial statements, and of whether the accounting
policies are appropriate to the Group’s and 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 financial
statements and the part of the Report on Directors’ remuneration 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 financial
statements and the part of the Report on Directors’ remuneration 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 30 September 2008 and of its profit and cash
flows for the year then ended;
• the parent company financial statements give a true and fair view, in
accordance with IFRSs as adopted by the European Union as applied
in accordance with the provisions of the Companies Act 1985, of the
state of the parent company’s affairs as at 30 September 2008 and
cash flows for the year then ended;
• the financial statements and the part of the Report on Directors’
remuneration to be audited have been properly prepared in
accordance with the Companies Act 1985 and, as regards the
Group financial statements, Article 4 of the IAS Regulation; and
• the information given in the Directors’ report is consistent
with the financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
St Albans
17 November 2008
Independent auditors’ report
to the members of easyJet plc
43
OverviewDirectors’ reportReport on Directors’ remunerationFinancial informationOther information