Experian 2014 Annual Report Download - page 166

Download and view the complete annual report

Please find page 166 of the 2014 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 178

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178

162
Report on the parent company financial statements
Our opinion
In our opinion the parent company financial statements, defined below:
• give a true and fair view of the state of the parent company’s affairs as at 31 March 2014 and of its loss for the year
then ended; and
• have been properly prepared in accordance with United Kingdom Accounting Standards.
This opinion is to be read in the context of what we say in the remainder of this report.
What we have audited
The parent company financial statements, which are prepared by Experian plc, comprise:
• the parent company balance sheet as at 31 March 2014;
• the parent company profit and loss account for the year then ended; and
• the notes to the parent company financial statements, which include a summary of significant accounting policies and other
explanatory information.
The financial reporting framework that has been applied in their preparation comprises United Kingdom Accounting Standards.
In applying the financial reporting framework, the directors have made a number of subjective judgements, for example in respect
of significant accounting estimates. In making such estimates, they have made assumptions and considered future events.
What an audit of financial statements involves
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) (‘ISAs (UK & Ireland)’). 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 parent 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 parent company 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.
Other matters on which we are required to report by exception
Adequacy of accounting records and information and explanations received
We have nothing to report in respect of the following matters where the Companies (Jersey) Law 1991 requires us to report to you if,
in our opinion:
• proper accounting records have not been kept by the parent company or proper returns adequate for our audit have not
been received from branches not visited by us; or
• the parent company financial statements are not in agreement with the accounting records and returns; or
• we have not received all the information and explanations we require for our audit.
Opinion on additional disclosures
Directors’ remuneration report
The parent company voluntarily prepares a directors’ remuneration report in accordance with the provisions of the UK Companies
Act 2006. The directors have requested that we audit the part of the directors’ remuneration report specified by the UK Companies
Act 2006.
In our opinion the part of the directors’ remuneration report to be audited has been properly prepared in accordance with the UK
Companies Act 2006.
Financial statements • Independent auditors’ report - parent company
Independent auditors’ report
to the members of Experian plc