Barclays 2004 Annual Report Download - page 125

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Barclays PLC Annual Report 2004
123
US Audit Report of the Independent Registered Public Accounting
Firm to the Board of Directors and Shareholders of Barclays PLC
and Barclays Bank PLC
We have audited the accompanying consolidated financial statements
of Barclays PLC and its subsidiary undertakings on pages 124 to 223
and Barclays Bank PLC and its subsidiary undertakings on pages 228
to 237. These financial statements are the responsibility of the
Company’s management. Our responsibility is to express an opinion
on these financial statements based on our audits.
We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of Barclays
PLC and its subsidiary undertakings and Barclays Bank PLC and its
subsidiary undertakings at 31st December 2004 and 2003, and the
results of their operations and their cash flows for each of the three
years in the period ended 31st December 2004 in accordance with
accounting principles generally accepted in the United Kingdom.
Accounting principles generally accepted in the United Kingdom vary
in certain significant respects from accounting principles generally
accepted in the United States of America. The application of the latter
would have affected the determination of consolidated net income
foreachofthe three years in the period ended 31st December 2004
and the determination of consolidated shareholder’s equity at
31st December 2004 and 2003 to the extent summarised in
Note 52 to the consolidated financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
London, United Kingdom, 10th March 2005