Ryanair 2012 Annual Report Download - page 28

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28
Statement of Directors‟ Responsibilities in respect of the Annual Report and the Financial Statements
The directors are responsible for preparing the Annual Report and the consolidated and Company financial
statements, in accordance with applicable law and regulations.
Company law requires the directors to prepare consolidated and Company financial statements for each
financial year. Under that law, the directors are required to prepare the consolidated financial statements in
accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union (EU) and
have elected to prepare the Company financial statements in accordance with IFRSs as adopted by the EU and as
applied in accordance with the provisions of the Companies Acts, 1963 to 2012. In preparing the consolidated
financial statements the directors have also elected to comply with IFRSs as issued by the International
Accounting Standards Board (IASB).
The consolidated and Company financial statements are required by law and IFRSs as adopted by the EU, to
present fairly the financial position of the Group and the Company and the performance of the Group. The
Companies Acts, 1963 to 2012 provide in relation to such financial statements that references in the relevant part
of these Acts to financial statements giving a true and fair view are references to their achieving a fair
presentation.
In preparing each of the consolidated and Company financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state that the financial statements comply with IFRSs as adopted by the EU as applied in accordance
with the Companies Acts, 1963 to 2012 and IFRSs as issued by the IASB; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the Group and the Company will continue in business.
Under applicable law and the requirements of the Listing Rules issued by the Irish Stock Exchange, the
directors are also responsible for preparing a Directors‘ Report and reports relating to directors‘ remuneration and
corporate governance that comply with that law and those Rules. In particular, in accordance with the
Transparency (Directive 2004/109/EC) Regulations 2007 (the Transparency Regulations), the directors are
required to include in their report a fair review of the business and a description of the principal risks and
uncertainties facing the Group and Company and a responsibility statement relating to those and other matters,
included below.
The directors are responsible for keeping proper books of account that disclose with reasonable accuracy at
any time the financial position of the Group and Company and enable them to ensure that its financial statements
comply with the Companies Acts, 1963 to 2012 and, as regards the consolidated financial statements, Article 4 of
the IAS Regulation. They are also responsible for taking such steps as are reasonably open to them to safeguard
the assets of the Company and to prevent and detect fraud and other irregularities.
The directors are responsible for the maintenance of integrity of the corporate and financial information
included on the Company‘s website. Legislation in the Republic of Ireland governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.