Holiday Inn 2013 Annual Report Download - page 105

Report of independent registered public accounting firm
on internal control over financial reporting
To the Board of Directors and Shareholders of InterContinental
Hotels Group PLC.
We have audited InterContinental Hotels Group PLC’s internal
control over financial reporting as of 31 December 2013, based on
criteria established in Internal Control-Integrated Framework
issued by the Committee of Sponsoring Organizations of the
Treadway Commission (1992 Framework) (the COSO criteria).
InterContinental Hotels Group PLC’s management is responsible
for maintaining effective internal control over financial reporting,
and for its assessment of the effectiveness of internal control over
financial reporting included in the Annual Report and Form 20-F.
Our responsibility is to express an opinion on the Group’s internal
control over financial reporting based on our audit.
We conducted our audit in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audit to obtain reasonable
assurance about whether effective internal control over financial
reporting was maintained in all material respects. Our audit
included obtaining an understanding of internal control over
financial reporting, assessing the risk that a material weakness
exists, testing and evaluating the design and operating effectiveness
of internal control based on the assessed risk, and performing such
other procedures as we considered necessary in the circumstances.
Webelieve that our audit provides a reasonable basis for our opinion.
A group’s internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles. A group’s internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the group; (2) provide
reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and
expenditures of the group are being made only in accordance
with authorisations of management and directors of the group;
and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorised acquisition, use, or disposition of the group’s
assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the
risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
In our opinion, InterContinental Hotels Group PLC maintained, in all
material respects, effective internal control over financial reporting
as of 31 December 2013, based on the COSO criteria.
We also have audited, in accordance with the standards of the
PublicCompany Accounting Oversight Board (United States),
theaccompanying Group statement of financial position of
InterContinental Hotels Group PLC as of 31 December 2013 and
2012, and the related Group income statement, Group statement
of comprehensive income, Group statement of changes in equity
and Group statement of cash flows for each of the three years in the
period ended 31 December 2013, and our report dated 17 February
2014 expressed an unqualified opinion thereon.
ERNST & YOUNG LLP
London, England 17 February 2014
InterContinental Hotels Group PLC report of
independent registered public accounting firm
To the Board of Directors and Shareholders of InterContinental
Hotels Group PLC.
We have audited the accompanying Group statement of financial
position of InterContinental Hotels Group PLC as of 31 December 2013
and 2012, and the related Group income statement, Group statement
of comprehensive income, Group statement of changes inequity and
Group statement of cash flows for each of the three years in the
period ended 31 December 2013. These financial statements are the
responsibility of the Group’s management. Our responsibility is to
express an opinion on these Financial Statements based on our audits.
We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United States).
Thosestandards require that we plan and perform the audit to obtain
reasonable assurance about whether the Financial Statements are
free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
Financial Statements. An audit also includes assessing the accounting
principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the Financial Statements referred to above present
fairly, in all material respects, the consolidated financial position
of InterContinental Hotels Group PLC at 31 December 2013
and 2012, and the consolidated results of its operations and its
consolidated cash flows for each of the three years in the period
ended 31 December 2013, in conformity with International
Financial Reporting Standards as adopted by the European Union
and International Financial Reporting Standards as issued by the
International Accounting Standards Board.
We also have audited, in accordance with the standards of the
PublicCompany Accounting Oversight Board (United States),
InterContinental Hotels Group PLC’s internal control over
financialreporting as of 31 December 2013, based on criteria
established in Internal Control-Integrated Framework issued
by theCommittee of Sponsoring Organizations of the Treadway
Commission (1992 Framework) and our report dated 17 February
2014 expressed anunqualified opinion thereon.
ERNST & YOUNG LLP
London, England 17 February 2014
Notes:
1. The maintenance and integrity of the InterContinental Hotels Group PLC
website is the responsibility of the Directors; the work carried out by the
auditors does not involve consideration of these matters and, accordingly,
the auditors accept no responsibility for any changes that may have occurred
to the Financial Statements since they were initially presented on the website.
2. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in
other jurisdictions.
Group Financial Statements 103
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GROUP FINANCIAL STATEMENTS
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