Holiday Inn 2010 Annual Report Download - page 65

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OVERVIEW BUSINESS REVIEW
THE BOARD,
SENIOR MANAGEMENT AND
THEIR RESPONSIBILITIES
PARENT COMPANY
FINANCIAL STATEMENTS USEFUL INFORMATION
GROUP FINANCIAL
STATEMENTS
Statements of Directors’ responsibilities and Independent auditor’s report 63
Opinion on other matters prescribed by the
Companies Act 2006
In our opinion the information given in the Directors’ Report for
the financial year for which the financial statements are prepared
is consistent with the Group financial statements.
Matters on which we are required to report
by exception
We have nothing to report in respect of the following:
Under the Companies Act 2006 we are required to report to you if,
in our opinion:
• 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.
Under the Listing Rules we are required to review:
• the Directors’ statement, set out on page 41, in relation to going
concern;
• the part of the Corporate Governance statement relating to the
Company’s compliance with the nine provisions of the June 2008
Combined Code specified for our review; and
• certain elements of the report to shareholders by the Board on
Directors’ remuneration.
Other matters
We have reported separately on the parent company financial
statements of InterContinental Hotels Group PLC for the year ended
31 December 2010 and on the information in the Remuneration
Report that is described as having been audited.
Alison Baker (Senior statutory auditor)
for and on behalf of Ernst & Young LLP, Statutory Auditor
London
14 February 2011
We have audited the Group financial statements of InterContinental
Hotels Group PLC for the year ended 31 December 2010 which
comprise the Group income statement, the Group statement of
comprehensive income, the Group statement of changes in equity,
the Group statement of financial position, the Group statement of
cash flows, accounting policies and the related notes 1 to 34.
The financial reporting framework that has been applied in their
preparation is applicable law and International Financial Reporting
Standards (IFRSs) as adopted by the European Union.
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 Statements of Directors’
responsibilities set out on page 62, the Directors are responsible
for the preparation of the Group 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 Group 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 Group’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 Group financial statements:
• give a true and fair view of the state of the Group’s affairs as
at 31 December 2010 and of its profit for the year then ended;
• have been properly prepared in accordance with IFRSs as
adopted by the European Union; and
• have been prepared in accordance with the requirements of
the Companies Act 2006 and Article 4 of the IAS Regulation.
Independent auditor’s report to the members of InterContinental Hotels Group PLC