EasyJet 2014 Annual Report Download - page 99

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www.easyJet.com 97
Governance
What an audit of accounts involves
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.
We primarily focus our work in these areas by assessing
the Directors’ judgements against available evidence,
forming our own judgements, and evaluating the
disclosures in the accounts.
We test and examine information, using sampling and
other auditing techniques, to the extent we consider
necessary to provide a reasonable basis for us to draw
conclusions. We obtain audit evidence through testing
the effectiveness of controls, substantive procedures
or a combination of both.
In addition, we read all the financial and non-financial
information in the Annual Report to identify material
inconsistencies with the audited accounts and to
identify any information that is apparently materially
incorrect based on, or materially inconsistent with, the
knowledge acquired by us in the course of performing
the audit. If we become aware of any apparent material
misstatements or inconsistencies we consider the
implications for our report.
John Minards (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
St Albans, Hertfordshire
17 November 2014
Adequacy of accounting records and information
and explanations received
Under the Companies Act 2006 we are required to
report to you if, in our opinion:
• we have not received all the information and
explanations we require for our audit; or
• 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 Directors’
Remuneration report to be audited are not in agreement
with the accounting records and returns.
We have no exceptions to report arising from this
responsibility.
Directors’ remuneration
Directors’ remuneration report – Companies Act 2006 opinion
In our opinion, the part of the Directors’ Remuneration
report to be audited has been properly prepared in
accordance with the Companies Act 2006.
Other Companies Act 2006 reporting
Under the Companies Act 2006 we are required to report
to you if, in our opinion, certain disclosures of Directors’
remuneration specified by law are not made. We have
no exceptions to report arising from this responsibility.
Corporate governance statement
Under the Listing Rules we are required to review the part
of the Corporate Governance Statement relating to the
Company’s compliance with nine provisions of the UK
Corporate Governance Code. We have nothing to report
having performed our review.
RESPONSIBILITIES FOR THE ACCOUNTS
AND THE AUDIT
Our responsibilities and those of the Directors
As explained more fully in the Statement of Directors’
responsibilities set out on page 92, 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 ISAs
(UK & 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.