BT 2015 Annual Report Download - page 132

130 BT Group plc
Annual Report 2015
Directors’ information
Statement of directors’ responsibilities
he directors are responsible for preparin the Annual Report the
Report on Directors’ Remuneration and the Financial statements in
accordance with applicable law and reulations. opan law reuires
the directors to prepare financial stateents for each financial ear.
Under that law the directors have prepared the consolidated financial
stateents in accordance with nternational inancial eportin
tandards  as adopted b the uropean Union and the parent
copan financial stateents in accordance with UK enerall ccepted
ccountin ractice UK . n preparin the consolidated financial
stateents the directors have also elected to copl with  issued
b the nternational ccountin tandards oard . Under copan
law the directors ust not approve the financial stateents unless the
are satisfied that the ive a true and fair view of the state of aairs of
the roup and the copan and of the profit or loss of the roup and
thecopan for that period.
n preparin these financial stateents the directors are reuired to
 select suitable accountin policies and then appl the consistentl
 ae udeents and accountin estiates that are reasonable
andprudent
 state whether  as adopted b the uropean Union and 
issued b the  and applicable UK  have been followed
subect to an aterial departures disclosed and eplained in
the consolidated and parent copan financial stateents
respectiveland
 prepare the financial stateents on the oin concern basis unless
it is inappropriate to presue that the roup and the copan will
continue in business.
he directors are responsible for eepin adeuate accountin records
that are sucient to show and eplain the copans transactions and
disclose with reasonable accurac at an tie the financial position of
the copan and the roup and enable the to ensure that the financial
stateents and the Report on Directors’ Remuneration copl with
the opanies ct 00 and as reards the consolidated financial
stateents rticle  of the  eulation. he are also responsible
for safeuardin the assets of the copan and the roup and hence
fortain reasonable steps for the prevention and detection of fraud
andother irreularities.
he directors are responsible for the aintenance and interit of
the corporate and financial inforation included on the copans
website. eislation in the United Kindo overnin the preparation
and disseination of financial stateents a dier fro leislation
inotherurisdictions.
ach of the directors whose naes and functions are listed on paes 9
to 9 confirs that to the best of their nowlede
 the consolidated financial stateents which have been prepared in
accordance with  as adopted b the uropean Union ive a true
and fair view of the assets liabilities financial position and profit of
the roup and
 the Strategic Report on paes 19 to 9 includes a fair review of
the developent and perforance of the business and the position
of the roup toether with a description of the principal riss and
uncertainties that it faces.
Fair, balanced and understandable
n accordance with the principles of the UK orporate overnance
ode we have processes and procedures in place to ensure that the
inforation presented in the nnual eport is fair balanced and
understandable  these are described on pae 10.
he oard considers on the advice of the
udit  is oittee
that the nnual eport taen as a whole is fair balanced and
understandable and provides the inforation necessar for shareholders
to assess the copans perforance business odel and strate.
Critical accounting estimates and key judgements,
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ur critical accountin estiates and e udeents and sinificant
accountin policies are set out on paes 19 to 1 of the consolidated
financial stateents and confor with . hese policies and
applicable estiation techniues have been reviewed b the directors
who have confired the to be appropriate for the preparation of the
011 consolidated financial stateents.
Disclosure of information to auditors
o far as each of the directors is aware there is no relevant inforation
that has not been disclosed to the auditors and each of the directors
believes that all steps have been taen that ouht to have been taen to
ae the aware of an relevant audit inforation and to establish that
the auditors have been ade aware of that inforation.
Going concern
he Strategic Report on paes 19 to 9 includes inforation on the
roup structure the perforance of each of the lines of business
the ipact of reulation and copetition and principal riss and
uncertainties. he Group Performance section on paes  to 9
includes inforation on our roup financial results financial outloo
cash ow and net debt and balance sheet position. otes    and
 of the consolidated financial stateents include inforation on the
roups investents cash and cash euivalents borrowins derivatives
financial ris anaeent obectives hedin policies and eposure to
interest forein echane credit liuidit and aret riss.
lonside the factors noted above the directors have considered the
roups cash ow forecasts in particular with reference to the period
to the end of a 01. he directors are satisfied that these cash
ow forecasts tain into account reasonabl possible ris sensitivities
associated with these forecasts and the roups current fundin and
facilities alonside the roups fundin strate show that the roup will
continue to operate for the foreseeable future. he directors therefore
continue to have a reasonable epectation that the roup has adeuate
resources to continue in operational eistence for the foreseeable future
and continue to adopt a oin concern basis in accordance with the
uidance oin oncern and iuidit is uidance for irectors of UK
opanies 009 issued b the inancial eportin ouncil in preparin
the consolidated financial stateents.
here has been no sinificant chane in the financial or tradin position
of the roup since 1 arch 01.
Independent advice
he oard has a procedure for directors in carrin out their duties
totae independent professional advice if necessar at s epense.
ll directors also have access to the advice and services of the opan
ecretar.