EasyJet 2014 Annual Report Download - page 98

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96 easyJet plc Annual report and accounts 2014
OTHER REQUIRED REPORTING
Consistency of other information
Companies Act 2006 opinion
In our opinion, the information given in the Strategic report and the Directors’ report for the financial year for which the
accounts are prepared is consistent with the accounts.
ISAs (UK & Ireland) reporting
Under ISAs (UK & Ireland) we are required to report to you if, in our opinion:
• Information in the Annual Report is:
• materially inconsistent with the information in the audited accounts; or
• apparently materially incorrect based on, or materially inconsistent with, our
knowledge of the Group and Company acquired in the course of performing
our audit; or
• otherwise misleading.
We have no exceptions to report
arising from this responsibility.
• the statement given by the Directors on pages 62 and 63, in accordance with
provision C.1.1 of the UK Corporate Governance Code dated September 2012
(the “Code”), that they consider the Annual Report taken as a whole to be fair,
balanced and understandable and provides the information necessary for
members to assess the Group’s and Company’s performance, business model
and strategy is materially inconsistent with our knowledge of the Group and
Company acquired in the course of performing our audit.
We have no exceptions to report
arising from this responsibility.
• the section of the Annual Report on pages 60 to 63, as required by provision
C.3.8 of the Code, describing the work of the Audit Committee does not
appropriately address matters communicated by us to the Audit Committee.
We have no exceptions to report
arising from this responsibility.
Independent auditors’ report to the members of easyJet plc continued
Materiality
The scope of our audit is influenced by our application
of materiality. We set certain quantitative thresholds for
materiality. These, together with qualitative considerations,
helped us to determine the scope of our audit and the
nature, timing and extent of our audit procedures and to
evaluate the effect of misstatements, both individually and
on the accounts as a whole.
Based on our professional judgement, we determined
materiality for the accounts as a whole as follows:
Overall group
materiality
£29 million (2013: £23 million).
How we
determined it
5% of profit before tax.
Rationale for
benchmark
applied
We have applied this benchmark, a
generally accepted auditing practice, in the
absence of indicators that an alternative
benchmark would be appropriate.
We agreed with the Audit Committee that we would report
to them misstatements identified during our audit above
£2 million (2013: £1 million) as well as misstatements below
that amount that, in our view, warranted reporting for
qualitative reasons.
Going concern
Under the Listing Rules we are required to review the
Directors’ statement, set out on page 26, in relation to
going concern. We have nothing to report having
performed our review.
As noted in the Directors’ statement, the Directors have
concluded that it is appropriate to prepare the accounts
using the going concern basis of accounting. The going
concern basis presumes that the Group and Company
have adequate resources to remain in operation, and that
the Directors intend them to do so, for at least one year
from the date the accounts were signed. As part of our
audit we have concluded that the Directors’ use of the
going concern basis is appropriate.
However, because not all future events or conditions can
be predicted, these statements are not a guarantee as
to the Group’s and Company’s ability to continue as a
going concern.