Holiday Inn 2010 Annual Report Download - page 116

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114 IHG Annual Report and Financial Statements 2010
Independent auditor’s report to the members of InterContinental Hotels Group PLC
We have audited the parent company financial statements of
InterContinental Hotels Group PLC for the year ended 31 December
2010 which comprise the parent company balance sheet and the
related notes 1 to 10. The financial reporting framework that has
been applied in their preparation is applicable law and United
Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
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 auditor’s 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 auditor
As explained more fully in the Statement of Directors’ Responsibilities
set out on page 113, the Directors are responsible for the preparation
of the parent company 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 parent company 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 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 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.
Opinion on financial statements
In our opinion the parent company financial statements:
• give a true and fair view of the state of the Company’s affairs as
at 31 December 2010;
• have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the
Companies Act 2006.
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 parent company 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 parent
company, or returns adequate for our audit have not been
received from branches not visited by us; or
• the parent 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 matter
We have reported separately on the Group financial statements
of InterContinental Hotels Group PLC for the year ended
31 December 2010.
Alison Baker (Senior statutory auditor)
for and on behalf of Ernst & Young LLP, Statutory Auditor
London
14 February 2011