EasyJet 2012 Annual Report Download - page 66

Accounts & other information
Independent auditors’ report
to the members of easyJet plc
We have audited the accounts of easyJet plc for the year ended
30 September 2012 which comprise the Consolidated income
statement, Consolidated statement of comprehensive income,
Consolidated statement of financial position, Consolidated
statement of changes in equity, Consolidated statement of
cash flows, Company statement of financial position, Company
statement of changes in equity, Company statement of cash
flows, and the related notes. The financial reporting framework
that has been applied in their preparation is applicable law and
International Financial Reporting Standards (IFRSs) as adopted
by the European Union and, as regards the Company accounts,
as applied in accordance with the provisions of the Companies
Act 2006.
Respective responsibilities of Directors
and auditors
As explained more fully in the Statement of Directors’
responsibilities set out on page 62, the Directors are responsible
for the preparation of the accounts and for being satisfied that
they give a true and fair view. Our responsibility is to audit and
express an opinion on the accounts in accordance with applicable
law and International Standards on Auditing (UK and Ireland).
Those standards require us to comply with the Auditing Practices
Board’s Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only
for the Company’s members as a body in accordance with
Chapter 3 of Part 16 of the Companies Act 2006 and for no other
purpose. We do not, in giving these opinions, 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.
Scope of the audit of the accounts
An audit involves obtaining evidence about the amounts and
disclosures in the accounts sufficient to give reasonable assurance
that the accounts are free from material misstatement, whether
caused by fraud or error. This includes an assessment of: whether
the accounting policies are appropriate to the Group’s and the
Company’s circumstances and have been consistently applied
and adequately disclosed; the reasonableness of significant
accounting estimates made by the Directors; and the overall
presentation of the accounts. In addition, we read all the financial
and non-financial information in the Annual Report to identify
material inconsistencies with the audited accounts. If we become
aware of any apparent material misstatements or inconsistencies
we consider the implications for our report.
Opinion on accounts
In our opinion:
→the accounts give a true and fair view of the state of the
Group’s and of the Company’s affairs as at 30 September 2012
and of the Group’s profit and the Group’s and Company’s cash
flows for the year then ended;
→the Group accounts have been properly prepared in
accordance with IFRSs as adopted by the European Union;
→the Company accounts have been properly prepared in
accordance with IFRSs as adopted by the European Union and
as applied in accordance with the provisions of the Companies
Act 2006; and
→the accounts have been prepared in accordance with the
requirements of the Companies Act 2006 and, as regards
the Group accounts, Article 4 of the lAS Regulation.
Opinion on other matters prescribed by the
Companies Act 2006
In our opinion:
→the part of the Report on Directors’ remuneration to be
audited has been properly prepared in accordance with the
Companies Act 2006; and
→the information given in the Directors’ Report for the financial
year for which the accounts are prepared is consistent with
the accounts.
Matters on which we are required to report
by exception
We have nothing to report in respect of the following:
Under the Companies Act 2006 we are required to report to you
if, in our opinion:
→adequate accounting records have not been kept by the
Company, or returns adequate for our audit have not been
received from branches not visited by us; or
→the Company accounts and the part of the Report on
Directors’ remuneration to be audited are not in agreement
with the accounting records and returns; or
→certain disclosures of Directors’ remuneration specified by law
are not made; or
→we have not received all the information and explanations
we require for our audit.
Under the Listing Rules we are required to review:
→the Directors’ statement, set out on page 25, in relation
to going concern;
→the parts of the Corporate Governance Statement relating to
the Company’s compliance with the nine provisions of the UK
Corporate Governance Code specified for our review; and
→certain elements of the report to shareholders by the Board on
Directors’ remuneration.
John Minards (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
St Albans, Hertfordshire
19 November 2012
easyJet plc
Annual report and accounts 2012
64