BT 2010 Annual Report Download - page 86

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The directors are responsible for preparing the Annual Report, the
Report on directors’ remuneration and the financial statements in
accordance with applicable law and regulations.
Company law requires the directors to prepare financial
statements for each financial year. Under that law the directors
have elected to prepare the consolidated financial statements in
accordance with International Financial Reporting Standards
(IFRSs) as adopted by the European Union, and the parent
company financial statements in accordance with United Kingdom
Generally Accepted Accounting Practice (United Kingdom
Accounting Standards and applicable law). In preparing the
consolidated financial statements, the directors have also elected to
comply with IFRSs, issued by the International Accounting
Standards Board (IASB). Under company law the directors must not
approve the financial statements unless they are satisfied that they
give a true and fair view of the state of affairs of the group and the
company and of the profit or loss of the group for that period. In
preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them
consistently;
make judgements and accounting estimates that are reasonable
and prudent;
state whether IFRSs as adopted by the European Union and IFRSs
issued by IASB and applicable UK Accounting Standards have
been followed, subject to any material departures disclosed and
explained in the consolidated and parent company financial
statements respectively; and
prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the company will
continue in business.
The directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the company’s
transactions and disclose with reasonable accuracy at any time the
financial position of the company and the group and enable them
to ensure that the financial statements and the Report on directors’
remuneration comply with the Companies Act 2006 and, as regards
the consolidated financial statements, Article 4 of the IAS
Regulation. They are also responsible for safeguarding the assets of
the company and the group and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
Each of the directors, whose names and functions are listed on
pages 58 to 59 confirm that, to the best of their knowledge:
the consolidated financial statements, which have been prepared
in accordance with IFRSs as adopted by the European Union, give
a true and fair view of the assets, liabilities, financial position and
profit of the group; and
the Report of the directors on pages 57 to 82 includes a fair
review of the development and performance of the business and
the position of the group, together with a description of the
principal risks and uncertainties that it faces.
BT GROUP PLC ANNUAL REPORT & FORM 20-F84
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
FINANCIAL STATEMENTS