Holiday Inn 2007 Annual Report Download - page 48

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46 IHG Annual Report and Financial Statements 2007
In relation to the Group financial statements
The following statement, which should be read in conjunction
with the independent auditor’s report set out opposite, is made
with a view to distinguishing for shareholders the respective
responsibilities of the Directors and of the auditor in relation
to the Group financial statements.
The Directors are responsible for preparing the Annual Report
and the Group financial statements in accordance with applicable
United Kingdom law and those International Financial Reporting
Standards as adopted by the European Union.
The Directors are required to prepare Group financial statements
for each financial year which present fairly the financial position
of the Group and the financial performance and cash flows of the
Group for that period.
The Directors consider that in preparing the Group financial
statements on pages 48 to 88 inclusive, the Group has used
appropriate accounting policies, applied in a consistent manner
and supported by reasonable and prudent judgements and
estimates, and that all applicable accounting standards have
been followed.
The Directors have responsibility for ensuring that the Group
keeps accounting records which disclose with reasonable
accuracy the financial position of the Group and which enable
them to ensure that the Group financial statements comply with
the Companies Act 1985 and Article 4 of the IAS Regulation.
The Directors have general responsibility for taking such steps
as are reasonably open to them to safeguard the assets of the
Group and to prevent and detect fraud and other irregularities.
Statement of Directors’ responsibilities