Holiday Inn 2006 Annual Report Download - page 89

In relation to the parent company financial statements
We have audited the parent company financial statements of
InterContinental Hotels Group PLC for the year ended 31 December
2006 which comprise the Company balance sheet and related notes
1 to 10. These parent company financial statements have been
prepared under the accounting policies set out therein. We have
also audited the information in the Remuneration Report that is
described as having been audited.
We have reported separately on the Group financial statements
of InterContinental Hotels Group PLC for the year ended
31 December 2006.
This report is made solely to the Company’s members, as a body,
in accordance with Section 235 of the Companies Act 1985. Our
audit work has been undertaken so that we might state to the
Company’s members those matters we are required to state to
them in an auditor’s report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility
to anyone other than the Company and the Company’s members
as a body, for our audit work, for this report, or for the opinions
we have formed.
Respective responsibilities of Directors and auditors
The Directors’ responsibilities for preparing the Annual Report, the
Remuneration Report and the parent company financial statements
in accordance with applicable United Kingdom law and Accounting
Standards (United Kingdom Generally Accepted Accounting
Practice) are set out in the Statement of Directors’ Responsibilities.
Our responsibility is to audit the parent company financial
statements and the part of the Directors’ Remuneration Report
to be audited in accordance with relevant legal and regulatory
requirements and International Standards on Auditing
(UK and Ireland).
We report to you our opinion as to whether the parent company
financial statements give a true and fair view and whether the
parent company financial statements and the part of the
Remuneration Report to be audited have been properly prepared
in accordance with the Companies Act 1985. We also report to
you whether, in our opinion, the information given in the Directors’
Report is consistent with the financial statements. The information
given in the Directors’ Report includes that specific information
presented in the Operating and Financial Review that is cross
referred from the Business review and future developments and
employees sections of the Directors’ Report.
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 read other information contained in the Annual Report and
consider whether it is consistent with the audited parent company
financial statements. The other information comprises only the
Highlights, Chairman’s Statement, Chief Executive’s Review,
Operating and Financial Review, the Board and Executive
Committee Statement, Directors’ Report, Corporate Governance
Statement, Audit Committee Report and the unaudited part of the
Remuneration Report. We consider the implications for our report
if we become aware of any apparent misstatements or material
inconsistencies with the parent company 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 parent company
financial statements and the part of the Remuneration Report
to be audited. It also includes an assessment of the significant
estimates and judgements made by the Directors in the preparation
of the parent company financial statements, and of whether
the accounting policies are appropriate to the 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 parent company financial statements and
the part of the Remuneration Report 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 parent
company financial statements and the part of the Remuneration
Report to be audited.
Opinion
In our opinion:
• the parent company financial statements give a true and fair
view, in accordance with United Kingdom Generally Accepted
Accounting Practice, of the state of the Company’s affairs
as at 31 December 2006;
• the parent company financial statements and the part of
the Remuneration Report to be audited have been properly
prepared in accordance with the Companies Act 1985; and
• the information given in the Directors’ Report is consistent
with the parent company financial statements.
Ernst & Young LLP,
Registered auditor, London.
19 February 2007
Independent auditor’s report to the members
of InterContinental Hotels Group PLC
IHG Parent company financial statements 87
Statement of Directors’ responsibilities and Independent auditor’s report to the members