BT 2010 Annual Report Download - page 87

85BT GROUP PLC ANNUAL REPORT & FORM 20-F
ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS REVIEW OF THE YEAR OVERVIEW
United Kingdom opinion
We have audited the consolidated financial statements of BT Group
plc for the year ended 31 March 2010 which comprise the Group
income statement, the Group statement of comprehensive income,
the Group statement of changes in equity, the Group cash flow
statement, the Group balance sheet, the Accounting policies and
the related notes. The financial reporting framework that has been
applied in their preparation is applicable law and International
Financial Reporting Standards (IFRSs) as adopted by the European
Union.
Respective responsibilities of directors and auditors
As explained more fully in the Statement of directors’
responsibilities set out on page 84, the directors are responsible for
the preparation of the consolidated financial statements and for
being satisfied that they give a true and fair view. Our responsibility
is to audit the consolidated financial statements in accordance with
applicable 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
Chapter 3 of Part 16 of the Companies Act 2006 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 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.
Opinion on financial statements
In our opinion the consolidated financial statements:
give a true and fair view of the state of the group’s affairs as at
31 March 2010 and of its profit and cash flows for the year then
ended;
have been properly prepared in accordance with IFRSs as
adopted by the European Union; and
have been prepared in accordance with the requirements of the
Companies Act 2006 and Article 4 of the IAS Regulation.
Separate opinion in relation to IFRSs as issued by the IASB
As explained in the accounting policies for the consolidated
financial statements the group, in addition to complying with its
legal obligation to apply IFRSs as adopted by the European Union,
has also applied IFRSs as issued by the International Accounting
Standards Board (IASB).
In our opinion the consolidated financial statements comply with
IFRSs as issued by the IASB.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion the information given in the Report of the directors
for the financial year for which the consolidated financial
statements are prepared is consistent with the consolidated
financial statements.
Matters on which we are required to report by exception
We have nothing to report in respect of the following:
Under the Companies Act 2006 we are required to report to you
if, in our opinion:
certain disclosures of directors’ remuneration specified by law are
not made; or
we have not received all the information and explanations we
require for our audit.
Under the Listing Rules we are required to review:
the directors’ statement, set out on page 54, in relation to going
concern; and
the part of the Corporate Governance Statement relating to the
company’s compliance with the nine provisions of the June 2008
Combined Code specified for our review.
Other matter
We have reported separately on the parent company financial
statements of BT Group plc for the year ended 31 March 2010 and
on the information in the Report on directors’ remuneration that is
described as having been audited.
Philip Rivett (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London, United Kingdom
12 May 2010
REPORT OF THE INDEPENDENT AUDITORS – CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS