Experian 2008 Annual Report Download - page 67

65Experian Annual Report 2008
Introduction 2 – 5
Business review 6 – 37
Governance 38 – 64
Financial statements Group financial statements Financial statements Group financial statements
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 2008 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 year ended 31
March 2008 and on the information in the report on directors’ remuneration that is described as having been audited.
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 (2006) 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 the 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 part of 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,
l
of the state of the Group’s affairs as at 31 March 2008 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
l
Article 4 of the IAS Regulation; and
the information given in the directors’ report is consistent with the Group financial statements.
l
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
London, United Kingdom
20 May 2008
Report of the auditors:
Group financial statements