Ryanair 2009 Annual Report Download - page 24

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24
Basis of audit opinion
We conducted our audit in accordance with International Standards on Accounting (United Kingdom
and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of
evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of
the significant estimates and judgements made by the directors in the preparation of the financial statements,
and of whether the accounting policies are appropriate to the Group’s and Company’s circumstances,
consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we
considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the
financial statements are free from material misstatement whether caused by fraud or other irregularity or error.
In forming our opinion we also evaluated the overall adequacy of the presentation of information in the
financial statements.
Opinion
In our opinion:
• the consolidated financial statements give a true and fair view, in accordance with IFRSs as
adopted by the EU, of the state of affairs of the Group as at March 31, 2009 and of its loss for the
year then ended;
• the company financial statements give a true and fair view, in accordance with IFRSs as adopted
by the EU, as applied in accordance with the provisions of the Companies Acts, 1963 to 2009 of
the state of affairs of the Company as at March 31, 2009;
• the consolidated financial statements have been properly prepared in accordance with the
Companies Acts, 1963 to 2009 and Article 4 of the IAS Regulation; and
• The company financial statements have been properly prepared in accordance with the Companies
Acts, 1963 to 2009.
Other matters
As explained in Note 1 on page 133 of the consolidated financial statements, the Group, in addition to
complying with its legal obligation to comply with IFRSs as adopted by the EU, has also prepared its
consolidated financial statements in compliance with IFRSs as issued by the IASB. In our opinion, the
consolidated financial statements give a true and fair view, in accordance with IFRSs as issued by the IASB,
of the state of the Group’s affairs as at March 31, 2009 and of its loss for the year then ended.
We have obtained all the information and explanations which we considered necessary for the purposes
of our audit. In our opinion, proper books of account have been kept by the Company. The Company’s
balance sheet is in agreement with the books of account.
In our opinion, the information given in the Directors’ Report is consistent with the financial
statements.
The net assets of the Company as stated in the Company balance sheet on page 177 are more than half
of the amount of its called up share capital, and, in our opinion, on that basis, there did not exist at March 31,
2009, a financial situation which, under Section 40(1) of the Companies (Amendment) Act 1983, would
require the convening of an extraordinary general meeting of the Company.
Chartered Accountants
Registered Auditor,
Dublin, Ireland,
July 28, 2009