Carphone Warehouse 2001 Annual Report Download - page 27

To the shareholders of The Carphone Warehouse Group PLC
We have audited the financial statements on pages 26 to 51 which have been prepared under the historical cost convention and the
accounting policies set out on pages 30 to 31. We have also examined the amounts disclosed relating to the emoluments, share options
and pension benefits of the Directors which form part of the Remuneration report on pages 19 to 21.
Respective responsibilities of directors and auditors
The Directors are responsible for preparing the Annual Report including, as described on page 24, preparing the financial statements in
accordance with applicable United Kingdom law and accounting standards. Our responsibilities, as independent auditors, are established
in the United Kingdom by statute, the Auditing Practices Board, the Listing Rules of the Financial Services Authority, and by our
profession’s ethical guidance.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance
with the Companies Act. We also report to you if, in our opinion, the Directors’ report is not consistent with the financial statements, if the
Group has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if
information specified by law or the Listing Rules regarding Directors’ remuneration and transactions with the Company and the Group is
not disclosed.
We review whether the Corporate governance statement on pages 17 and 18 reflects the Company’s compliance with the seven
provisions of the Combined Code specified for our review by the Financial Services Authority, and we report if it does not. We are not
required to consider whether the Board’s statements on internal control cover all risks and controls, or form an opinion on the effectiveness
of the Company’s corporate governance procedures or its risk and control procedures.
We read the other information contained in the Annual Report, including the Corporate governance statement, and consider whether
it is consistent with the audited financial statements. We consider the implications for our report if we become aware of any apparent
mis-statements or material inconsistencies with the financial statements.
Basis of audit opinion
We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a
test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant
estimates and judgements made by the Directors in the preparation of the financial statements and of whether the accounting policies are
appropriate to the circumstances of the Company and of the Group, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to
provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material mis-statement,
whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of
information in the financial statements.
Opinion
In our opinion the financial statements give a true and fair view of the state of affairs of the Company and of the Group at 31 March 2001
and of the Group’s profit and cash flows for the financial period then ended and have been properly prepared in accordance with the
Companies Act 1985.
Arthur Andersen
Chartered Accountants and Registered Auditors
1 Surrey Street
London
WC2R 2PS
29 May 2001
The Carphone Warehouse Group PLC Annual Report 2001 25
Auditors’ report