Aviva 2007 Annual Report Download - page 91
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Morley maintains a detailed Corporate Governance and
Voting Policy as part of its investment strategy, which
underpins its approach to engaging and voting at
company general meetings. The policy also extends to
cover social, environmental and ethical issues. Its policy
is applied pragmatically, after careful consideration of
all relevant information. In addition, Morley makes detailed
voting reports available to clients and publishes statistics
on its website.
Directors’ responsibilities
The directors are required to prepare accounts for each
accounting period that comply with the relevant provisions
of the Companies Act 1985, the Companies Act 2006
(where applicable) and International Financial Reporting
Standards (IFRS) as adopted by the European Union,
and which present fairly the financial position, financial
performance and cash flows of the Company and
the Group at the end of the accounting period. A fair
presentation of the financial statements in accordance
with IFRS requires the directors to:
– select suitable accounting policies and verify that
they are applied consistently in preparing the accounts,
on a going concern basis unless it is inappropriate
to presume that the Company and the Group will
continue in business;
– present information, including accounting policies, in a
manner that provides relevant, reliable, comparable and
understandable information;
– provide additional disclosures when compliance with
the specific requirements in IFRS is insufficient to enable
users to understand the impact of particular transactions,
other events and conditions on the Company and the
Group’s financial position and financial performance; and
– state that the Company and the Group have complied
with applicable IFRS, subject to any material departures
disclosed and explained in the accounts.
The directors are responsible for maintaining proper
accounting records which are intended to disclose with
reasonable accuracy, at any time, the financial position
of the Company and the Group. They are also ultimately
responsible for the systems of internal control maintained
by the Group for safeguarding the assets of the Company
and the Group and for the prevention and detection of
fraud and other irregularities. Further details of the systems
of internal controls maintained by the Group are more
fully described above.
Going concern
After making enquiries, the directors have a reasonable
expectation that the Company and the Group as a
whole have adequate resources to continue in operational
existence for the foreseeable future. For this reason,
they continue to adopt the going concern basis in
preparing the accounts.
Aviva plc
Annual Report and
Accounts 2007
87
Governance