Ryanair 2008 Annual Report Download - page 38

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38
Independent Auditor’s Report to the members of Ryanair Holdings plc
We have audited the Group and Company financial statements of Ryanair Holdings plc for the year
ended March 31, 2008 which comprise the Consolidated Income Statement, the Consolidated and Company
Balance Sheets, the Consolidated and Company Cash Flow Statements, the Consolidated and Company
Statements of Recognised Income and Expense and the related notes. These financial statements have been
prepared under the accounting policies set out therein.
This report is made solely to the Company’s members, as a body, in accordance with section 193 of
the Companies Act, 1990 and in respect of the separate opinion in relation to International Financial
Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (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 auditor’s report and in respect of the separate
opinion in relation to IFRSs, as issued by the 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 auditor
The directors’ responsibilities for preparing the Annual Report and the financial statements in
accordance with applicable law IFRSs as adopted by the European Union (EU), and their separate
responsibilities for electing to prepare the Group financial statements in accordance with IFRSs as issued
by the IASB, are set out in the Statement of Directors Responsibilities on page 36.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory
requirements and International Standards on Auditing (United Kingdom and Ireland).
We report to you our opinion as to: whether the financial statements give a true and fair view in
accordance with IFRSs as issued by the IASB and also as adopted by the EU, and, in the case of the
Company, applied in accordance with the provisions of the Companies Acts, 1963 to 2006, and have been
properly prepared in accordance with the Companies Acts, 1963 to 2006 and Article 4 of the IAS
Regulation.
We also report to you, whether, in our opinion; proper books of account have been kept by the
Company; at the balance sheet date, there exists a financial situation requiring the convening of an
extraordinary general meeting of the Company under section 40(1) of the Companies (Amendment) Act
1983; and whether the information given in the Directors’ Report is consistent with the financial statements.
In addition, we state whether we have obtained all the information and explanations necessary for the
purposes of our audit, and whether the Company Balance Sheet is in agreement with the books of account.
We also report to you if, in our opinion, any information specified by law or the Listing Rules of the
Irish Stock Exchange regarding directors’ remuneration and transactions is not disclosed and, where
practicable, include such information in our report.
We review whether the Corporate Governance Statement reflects the Company’s compliance with the
nine provisions of the 2006 Combined Code specified for our review by the Listing Rules of the Irish Stock
Exchange, and we report if it does not. We are not required to consider whether the Board’s statements on
internal control cover all risks and controls, or form an opinion on the effectiveness of the Group’s
corporate governance procedures or its risk and control procedures.