Carphone Warehouse 2012 Annual Report Download - page 54

Carphone Warehouse Group plc Annual Report 201250
We have audited the financial statements of Carphone Warehouse
Group plc for the year ended 31 March 2012 which comprise the
Consolidated Income Statement, the Consolidated Statement of
Comprehensive Income, the Consolidated Statement of Changes
inEquity, the Consolidated Balance Sheet, the Consolidated Cash
Flow Statement, the notes to the Consolidated Financial Statements
1 to 22, the Company Balance Sheet and the notes 1 to 10 of the
Company Financial Statements. The financial reporting framework
that has been applied in the preparation of the Group financial
statements is applicable law and IFRS. The financial reporting
framework that has been applied in the preparation of the
Companyfinancial statements is applicable law and UK GAAP.
This report is made solely to the Company’s members, as a body,
inaccordance with Chapter 3 of Part 16 of the Companies Act 2006.
Our audit work has been undertaken so that we might state to
theCompany’s members those matters we are required to state
tothem in an auditors' report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility
to anyone other than the Company and the Company’s members
asa body, for our audit work, for this report, or for the opinions
wehave formed.
Respective responsibilities of directors and auditors
As explained more fully in the Statement of Directors’ Responsibilities,
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.
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 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 financial statements
In our opinion:
— the financial statements give a true and fair view of the state
ofthe Group’s and of the Company’s affairs as at 31 March 2012
and of the Group’s profit for the year then ended;
— the Group financial statements have been properly prepared
inaccordance with IFRS;
— the Company financial statements have been properly prepared
in accordance with UK GAAP; and
— the financial statements have been prepared in accordance
withthe requirements of the Companies Act 2006 and, as regards
the Group financial statements, Article 4 of the IAS 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 matters
wherethe Companies Act 2006 requires us to report to you if,
inouropinion:
— adequate accounting records have not been kept by the
Company, or returns adequate for our audit have not been
received from branches not visited by us; or
— the 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.
Other matters
Although not required to do so, the directors have voluntarily
chosen to make a corporate governance statement detailing the
extent of their compliance with the UK Corporate Governance Code.
We reviewed:
— the directors’ statement, contained on page 27 of the Business
Review, in relation to going concern;
— the part of the report on Corporate Governance 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 Remuneration Report.
John Adam (Senior statutory auditor)
for and on behalf of Deloitte LLP
Chartered Accountants and Statutory Auditor
London, United Kingdom
13 June 2012
INDEPENDENT AUDITORS’ REPORT