Aer Lingus 2012 Annual Report Download - page 60

INDEPENDENT AUDITORS’ REPORT Aer Lingus Group Plc
ANNUAL REPORT 2012
58
INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF AER LINGUS GROUP PLC
We have audited the financial statements of Aer Lingus Group plc for
the year ended 31 December 2012 which comprise the Consolidated
Income Statement, the Consolidated Statement of Comprehensive
Income, the Consolidated and Company Statements of Financial Position,
the Consolidated and Company Statements of Changes in Equity, the
Consolidated and Company Statements of Cash Flows and the related
notes. The financial reporting framework that has been applied in their
preparation is Irish law and International Financial Reporting Standards
(IFRSs) as adopted by the European Union and, as regards the company
financial statements, as applied in accordance with the provisions of the
Companies Acts 1963 to 2012.
Respective responsibilities of directors and
auditors
As explained more fully in the Directors’ Responsibilities Statement set
out on page 39, the directors are responsible for the preparation of the
financial statements giving a true and fair view. Our responsibility is to
audit and express an opinion on the financial statements in accordance
with Irish law and International Standards on Auditing (UK and Ireland).
Those standards require us to comply with the Auditing Practices Board’s
Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only for
the company’s members as a body in accordance with Section 193 of the
Companies Act, 1990 and for no other purpose. We do not, in giving
these opinions, accept or assume responsibility for any other purpose or to
any other person to whom this report is shown or into whose hands it may
come save where expressly agreed by our prior consent in writing.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures
in the financial statements sufficient to give reasonable assurance that the
financial statements are free from material misstatement, whether caused
by fraud or error. This includes an assessment of: whether the accounting
policies are appropriate to the group’s and the company’s circumstances
and have been consistently applied and adequately disclosed; the
reasonableness of significant accounting estimates made by the directors;
and the overall presentation of the financial statements. In addition, we
read all the financial and non-financial information in the Annual Report to
identify material inconsistencies with the audited financial statements. If we
become aware of any apparent material misstatements or inconsistencies
we consider the implications for our report.
Opinion on financial statements
In our opinion:
• the group financial statements give a true and fair view, in accordance
with IFRSs as adopted by the European Union, of the state of the
group’s affairs as at 31 December 2012 and of its profit and cash flows
for the year then ended;
• the company financial statements give a true and fair view, in
accordance with IFRSs as adopted by the European Union as applied
in accordance with the provisions of the Companies Acts 1963 to
2012, of the state of the company’s affairs as at 31 December 2012
and cash flows for the year then ended; and
• the financial statements have been properly prepared in accordance
with the requirements of the Companies Acts 1963 to 2012 and, as
regards the group financial statements, Article 4 of the IAS Regulation.
Matters on which we are required to report by the
Companies Acts 1963 to 2012
• We have obtained all the information and explanations which we
consider necessary for the purposes of our audit.
• In our opinion proper books of account have been kept by the
company.
• The Company Statement of Financial Position is in agreement with the
books of account.
• In our opinion the information given in the Directors’ Report is
consistent with the financial statements and the description in the
Corporate Governance Statement of the main features of the internal
control and risk management systems in relation to the process for
preparing the group financial statements is consistent with the group
financial statements.
• The net assets of the company, as stated in the Company Statement
of Financial Position, are more than half of the amount of its called-up
share capital and, in our opinion, on that basis there did not exist at
31 December 2012 a financial situation which under Section 40 (1) of
the Companies (Amendment) Act, 1983 would require the convening
of an extraordinary general meeting of the company.
Matters on which we are required to report by
exception
We have nothing to report in respect of the following:
Under the Companies Acts 1963 to 2012 we are required to report to
you if, in our opinion, the disclosures of directors’ remuneration and
transactions specified by law are not made.