Holiday Inn 2006 Annual Report Download - page 88

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In relation to the parent company financial statements
The following statement, which should be read in conjunction
with the Independent Auditor’s Report, is made with a view to
distinguishing for shareholders the respective responsibilities
of the Directors and of the auditors in relation to the Company
financial statements.
The Directors are responsible for preparing the parent company
financial statements and Remuneration Report in accordance with
applicable United Kingdom law and United Kingdom Generally
Accepted Accounting Practice (UK GAAP).
The Directors are required to prepare Company financial
statements for each financial year which present fairly the financial
position of the Company and the financial performance of the
Company for that period.
The Directors consider that, in preparing the Company financial
statements, the Company has used appropriate accounting policies,
consistently applied and supported by reasonable and prudent
judgements and estimates, and that all applicable accounting
standards have been followed. The Company financial statements
have been prepared on a going concern basis as the Directors have
a reasonable expectation that the Company has adequate resources
to continue in operational existence for the foreseeable future.
The Directors have responsibility for ensuring that the Company
keeps accounting records which disclose with reasonable accuracy
the financial position of the Company and which enable them to
ensure that the Company financial statements comply with the
Companies Act 1985.
The Directors have general responsibility for taking such steps
as are reasonably open to them to safeguard the assets of the
Company and to prevent and detect fraud and other irregularities.
86 IHG Annual report and financial statements 2006
Statement of Directors’ responsibilities