Peachtree 2012 Annual Report Download - page 77

Overview
Performance
Governance
Independent auditors’ report to the members of The Sage Group plc
We have audited the Group financial statements of The Sage Group plc for the
year ended 30 September 2012 which comprise the Consolidated income
statement, the Consolidated statement of comprehensive income, the
Consolidated balance sheet, the Consolidated statement of changes in equity,
the Consolidated statement of cash flows and the related notes. The financial
reporting framework that has been applied in their preparation is applicable
law and International Financial Reporting Standards (“IFRS”) as adopted by
the European Union.
Respective responsibilities of directors and auditors
As explained more fully in the Statement 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 Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only for the
Company’s members as a body in accordance with Chapter 3 of Part 16 of
the Companies Act 2006 and for no other purpose. We do not, in giving these
opinions, 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.
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. In addition, we read all the financial and non-financial information
in the Annual Report & Accounts to identify material inconsistencies with the
audited financial statements. If we become aware of any apparent material
misstatements or inconsistencies we consider the implications for our report.
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
30 September 2012 and of its profit and cash flows 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 lAS Regulation.
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 Group financial statements are prepared is consistent with the Group
financial statements; and
the information given in the Corporate governance statement set out
on pages 49 to 59 with respect to internal control and risk management
systems and about share capital structures is consistent with the
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; or
a corporate governance statement has not been prepared by the
parent Company.
Under the Listing Rules we are required to review:
the directors’ statement, set out on page 60 in relation to going concern;
the part of the Corporate governance statement relating to the
Company’s compliance with the nine provisions of the UK Corporate
Governance 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 The Sage Group plc for the year ended 30 September 2012 and on
the information in the Remuneration report that is described as having
been audited.
The maintenance and integrity of The Sage Group plc website is the
responsibility of the directors; the work carried out by the auditors does not
involve consideration of these matters and, accordingly, the auditors accept
no responsibility for any changes that may have occurred to the financial
statements since they were initially presented on the website.
Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in
other jurisdictions.
Charles Bowman (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
Newcastle upon Tyne
5 December 2012
Financial statements
75
The Sage Group plc | Annual Report & Accounts 2012