HSBC 2009 Annual Report Download - page 352

HSBC HOLDINGS PLC
Independent Auditor’s Report to the Members of HSBC Holdings plc
350
We have audited the Group and parent company financial statements of HSBC Holdings plc for the year ended
31 December 2009 set out on pages 353 to 471. The financial reporting framework that has been applied in their
preparation is applicable law and International Financial Reporting Standards (‘IFRSs’) as adopted by the EU and as
issued by the International Accounting Standards Board (‘IASB’) and, as regards the parent company financial
statements, as applied in accordance with the provisions of the Companies Act 2006.
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 and, in respect of the separate opinion in relation to IFRSs as issued by the IASB, on terms that
have been agreed. 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 in respect of the separate opinion in relation to
IFRSs as issued by IASB, those matters that we have agreed to state to them in our 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 Directors’ Responsibilities Statement set out on page 349, 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 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 (‘APB’s)
Ethical Standards for Auditors.
Scope of the audit opinion
A description of the scope of an audit of financial statements is provided on the APB’s website at
www.frc.org.uk/apb/scope/UKP.
Opinion
In our opinion:
• the financial statements give a true and fair view of the state of the Group’s and of the parent company’s affairs
as at 31 December 2009 and of the Group’s profit for the year then ended;
• the Group financial statements have been properly prepared in accordance with IFRSs as adopted by the EU;
• the parent company financial statements have been properly prepared in accordance with IFRSs as adopted by
the EU and as applied in accordance with the provisions of the Companies Act 2006; 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.
Separate opinion in relation to IFRSs as issued by the IASB
As explained in Note 1(a) to the Group financial statements, the Group in addition to complying with its legal
obligation to apply IFRSs as adopted by the European Union, has also applied IFRSs as issued by the IASB.
In our opinion, the Group financial statements comply with IFRSs as issued by the IASB.
Opinion on other matters prescribed by the Companies Act, 2006
In our opinion:
• the part of the Directors’ 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.