Experian 2007 Annual Report Download - page 122

Introduction | Business review | Governance | Financial statements
120 |Experian Annual Report2007
Independent auditors’ report to the members of Experian Group Limited
We have audited the Group financial statements of Experian Group Limited for the year ended 31 March 2007 which comprise the Group income
statement, the Group balance sheet, the Group cash flow statement, the Group statement of recognised income and expense and the related
notes. These Group financial statements have been prepared under the accounting policies set out therein.
We have reported separately on the parent company financial statements of Experian Group Limited for the period ended 31 March 2007.
Respective responsibilities of directors and auditors
The directors’ responsibilities for preparing the annual report and the Group financial statements in accordance with applicable law and
International Financial Reporting Standards (IFRSs) as adopted by the European Union are set out in the statement of directors’ responsibilities.
Our responsibility is to audit the Group financial statements in accordance with relevant legal and regulatory requirements and International
Standards on Auditing (UK and Ireland). This report, including the opinion, has been prepared for and only for the Company’s members as a body in
accordance with Article 110 of the Companies (Jersey) Law 1991 and for no other purpose. We do not, in giving this opinion, 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.
We report to you our opinion as to whether the Group financial statements give a true and fair view and whether the Group financial statements
have been properly prepared in accordance with the Companies (Jersey) Law 1991 and Article 4 of the IAS Regulation. We also report to you
whether in our opinion the information given in the directors’ report is consistent with the Group financial statements. The information given in the
directors’ report includes that specific information presented in the business review that is cross referred from the directors’ report.
In addition we report to you if, in our opinion, we have not received all the information and explanations we require for our audit.
We review whether the corporate governance statement reflects the Company’s compliance with the nine provisions of the Combined Code (2003)
specified for our review by the Listing Rules of the United Kingdom Financial Services Authority, and we report if it does not. We are not required to
consider whether the board’s statements on internal controls cover all risks and controls, or form an opinion on the effectiveness of the Group’s
corporate governance procedures or its risk and control procedures.
We read other information contained in the annual report and consider whether it is consistent with the audited Group financial statements. The
other information comprises only the Group financial highlights, the directors’ report, the chairman’s statement, the business review, the board of
directors, the unaudited partof the report on directors’ remuneration, the corporate governance statement and the other items as referred to on
the contents listing. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with
the Group financial statements. Our responsibilities do not extend to any other information.
Basis of audit opinion
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit
includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the Group financial statements. It also includes an
assessment of the significant estimates and judgments made by the directors in the preparation of the Group financial statements, and of whether
the accounting policies are appropriate to the Group’s circumstances, 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 Group financial statements are free from material misstatement, whether caused by
fraud or other irregularity or error.In forming our opinion we have also evaluated the overall adequacy of the presentation of information in the
Group financial statements.
Opinion
In our opinion:
•the Group financial statements give a true and fair view, in accordance with IFRSs as adopted by the European Union, of the state of the Group’s
affairs as at 31 March 2007 and of its profit and cash flows for the year then ended;
•the Group financial statements have been properly prepared in accordance with the Companies (Jersey) Law 1991 and Article 4 of the IAS
Regulation; and
•the information given in the directors’ report is consistent with the Group financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
London, United Kingdom
22 May 2007
Report of the auditors: Group financial statements