Barclays 2015 Annual Report Download - page 253

home.barclays/annualreport Barclays PLC Annual Report 2015 I 251
The Directors’ assessment of the prospects of the Group and of the principal risks that would threaten the solvency or liquidity of the Group
Under ISAs (UK & Ireland) we are required to report to you if we have anything material to add or to draw attention
to in relation to:
 the Directors’ confirmation in the Annual Report that they have carried out a robust assessment of the principal risks
facing the Group, including those that would threaten its business model, future performance, solvency or liquidity
We have nothing
material to add or to
draw attention to.
 the disclosures in the Annual Report that describe those risks and explain how they are being managed or mitigated We have nothing
material to add or to
draw attention to.
 the Directors’ explanation in the Annual Report as to how they have assessed the prospects of the Group, over what period
they have done so and why they consider that period to be appropriate, and their statement as to whether they have a
reasonable expectation that the Group will be able to continue in operation and meet its liabilities as they fall due over the
period of their assessment, including any related disclosures drawing attention to any necessary qualifications or assumptions.
We have nothing
material to add or to
draw attention to.
Under the Listing Rules we are required to review the Directors’ Statement that they have carried out a robust assessment of the principal risks facing
the Group and the Directors’ Statement in relation to the longer-term viability of the Group, set out on page 26. Our review was substantially less in
scope than an audit and only consisted of making inquiries and considering the Directors’ process supporting their statements; checking that the
statements are in alignment with the relevant provisions of the Code; and considering whether the statements are consistent with the knowledge
acquired by us in the course of performing our audit. We have nothing to report having performed our review.
Adequacy of accounting records and information and explanations received
Under the Companies Act 2006 we are required to report to you if, in our opinion:
 we have not received all the information and explanations we require for our audit We have no exceptions
to report.
 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
We have no exceptions
to report.
 the Parent company financial statements and the part of the Directors’ Remuneration Report to be audited are not in
agreement with the accounting records and returns.
We have no exceptions
to report.
Directors’ remuneration
Directors’ remuneration report – Companies Act 2006 opinion
In our opinion, the part of the Directors’ Remuneration Report to be
audited has been properly prepared in accordance with the Companies
Act 2006.
Other Companies Act 2006 reporting
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. We have no exceptions to report arising from these
responsibilities.
Corporate governance statement
Under the Listing Rules we are required to review the part of the
Corporate Governance Statement relating to ten further provisions of the
UK Corporate Governance Code. We have nothing to report having
performed our review.
Responsibilities for the financial statements and the audit
Our responsibilities and those of the Directors
As explained more fully in the Directors’ Responsibilities Statement set out on
page 78, 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 ISAs (UK & 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.
What an audit of financial statements involves
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
 the overall presentation of the financial statements.
We primarily focus our work in these areas by assessing the Directors’
judgement against available evidence, forming our own judgements,
and evaluating the disclosures in the financial statements.
We test and examine information, using sampling and other auditing
techniques, to the extent we consider necessary to provide a reasonable
basis for us to draw conclusions. We obtain audit evidence through
testing the effectiveness of controls, substantive procedures or a
combination of both.
In addition, we read all the financial and non-financial information in the
Annual Report to identify material inconsistencies with the audited
financial statements and to identify any information that is apparently
materially incorrect based on, or materially inconsistent with, the
knowledge acquired by us in the course of performing the audit. If we
become aware of any apparent material misstatements or
inconsistencies we consider the implications for our report.
Henry Daubeney (Senior Statutory Auditor)
for and on behalf of
PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London
29 February 2016
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