Barclays 2012 Annual Report Download - page 231

The strategic report Governance Risk review Financial review Financial statements Risk management Shareholder information
Independent Auditors’ report
Independent Auditors’ report to the members of Barclays PLC
We have audited the financial statements of Barclays PLC for the year
ended 31 December 2012 which comprise: the Consolidated and
Parent income statements and the related Consolidated statements of
comprehensive income, Consolidated and Parent balance sheets,
Consolidated and Parent statements of changes in equity and
Consolidated and Parent cash flow statements, the related notes and
the parts of the Risk review, Risk management and Financial review
sections that are referenced as audited. 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 Directors’ Responsibilities Statement,
the directors are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view.
Our responsibility is to audit and express an opinion on the 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 and the parent company’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. In addition, we read all the
financial and non-financial information in the annual report to identify
material inconsistencies with the audited financial statements. If we
become aware of any apparent material misstatements or
inconsistencies we consider the implications for our report.
Opinion on the financial statements
In our opinion the financial statements:
 give a true and fair view of the state of the group’s and of the parent
company’s affairs as at 31 December 2012 and of the group’s and the
parent company’s loss 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, as regards the group financial statements,
Article 4 of the lAS Regulation.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion:
 the part of the Remuneration Report to be audited has been properly
prepared in accordance with the Companies Act 2006; and
 the information given in the Directors’ Report for the financial year
for which the financial statements are prepared is consistent with the
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:
 adequate accounting records have not been kept by the parent
company, or returns adequate for our audit have not been received
from branches not visited by us; or
 the parent company financial statements and the part of the
Remuneration Report to be audited are not in agreement with the
accounting records and returns; or
 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 in the Corporate Governance
section, in relation to going concern;
 the parts of the Corporate Governance Statement relating to the
company’s compliance with the nine provisions of the UK Corporate
Governance Code specified for our review; and
 certain elements of the report to shareholders by the Board on
directors’ remuneration.
Andrew Ratcliffe (Senior Statutory Auditor)
for and on behalf of
PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London, United Kingdom
5 March 2013
Notes
a The maintenance and integrity of Barclays website is the responsibility of the
Directors; the work carried out by the Auditors does not involve consideration
of these matters and, accordingly, the Auditors accept no responsibility for any
changes that may have occurred to the financial statements since they were
initially presented on the website.
b Legislation in the United Kingdom governing the preparation and dissemination
of financial statements may differ from legislation in other jurisdictions.
barclays.com/annualreport Barclays PLC Annual Report 2012 I 229