Holiday Inn 2009 Annual Report Download - page 60

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58 IHG Annual Report and Financial Statements 2009
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,
the Remuneration 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.
In preparing these financial statements, the Directors are
required to:
• select suitable accounting policies and apply them consistently;
• make judgements and accounting estimates that are reasonable
and prudent;
• state whether applicable International Financial Reporting
Standards as adopted by the European Union have been
followed, subject to any material departures disclosed and
explained in the financial statements; and
• prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the Company and the
Group will continue in business.
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 2006 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.
The Directors are responsible for the maintenance and integrity
of the corporate and financial information included on the Group’s
website. Legislation in the United Kingdom governing the
preparation and dissemination of financial statements may
differ from legislation in other jurisdictions.
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
as adopted by the European Union;
• 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, including the Directors’ report, and the Group
financial statements include a fair 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 Chief Financial Officer
15 February 2010 15 February 2010
Statements of Directors’ responsibilities