Holiday Inn 2008 Annual Report Download - page 52

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50 IHG Annual Report and Financial Statements 2008
In relation to the Group financial statements
The following statement, which should be read in conjunction
with the independent auditor’s report set out on the opposite
page, 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 52 to 94 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.
Disclosure and Transparency Rules
The Annual Report and the Group financial statements comply
with the Disclosure and Transparency Rules of the United
Kingdom’s Financial Services Authority in respect of the
requirement to produce an annual financial report.
The Annual Report and the Group financial statements are the
responsibility of, and have been approved by, the Directors.
The Directors confirm that to the best of their knowledge:
• the consolidated financial statements have been prepared in
accordance with International Financial Reporting Standards;
• the financial statements give a true and fair view of the assets,
liabilities, financial position and profit or loss of the Company
and the undertakings included in the consolidation taken as
a whole; and
• the Annual Report and the Group financial statements include a
review of the development and performance of the business and
the position of the Company and the undertakings included in
the consolidation taken as a whole, together with a description
of the principal risks and uncertainties that they face.
On behalf of the Board
Andrew Cosslett Richard Solomons
Chief Executive Finance Director
16 February 2009 16 February 2009
Statements of Directors’ responsibilities