Untitled

Auditors'Report
Report of the Auditors to the members of EMI Group plc
We have audited the financial statements on pages 38 to 69
which haw been preparcd under the historical cost con€ntion
and on the basis of the accounting policies set out on pages
4 and 45.
Respective responsibilities of Directors and Auditors
EMI Group plc! DirectoB are responsible for preparing the
Annual Report. As described on page 26, this includes
responsibility for preparing the financial staternents in accordance
with applicabh United Kingdom law and accounting standards.
our responsibilities, as independent audito6, are established in
the United Kingdom by statne, the Auditing Ptactices Board,
the Lining Rules of the United Kingdom Usting Authonty and
by our profession3 ethical guidance.
We report to tou our opinion as to whether the financial
statements give a true and fair veu/ and are properly prepared
in accordance with tre Companr€s Act. We also report to you
if, in our opinbn, the Di€ctors' Repon is not consinent with
the financial statemens, if the Company has not kept proper
accounting records, if we hale not receiwd all the information
and explanations ue require for our audit or if the information
specified bv larv or the Lining Rules regarding Directo6'
remuneration and transactions with the Company is not disclosed.
We revrs,v whether the Corporate Gc /€mance Statefi€nt on
paqes 25 to 27 reflecb the Companys compliance with the ss/en
provisons of the combined Code pecified fo our reuiaru by tlre
iJnited Kinqdorn Listing Authority, and we report ff it does not.
We are not required to consider whether the Boardb statements
on intemal control corer all risk and controls, or form an oprnion
on the effectrcness of either the Company's corporate
golernance procedures or its risk and control procedures.
Basis of audit opinion
We condrrted our audit in accordance wittt Auditing Standards
issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of eviderrce relevant to the amounts
and drrlosures in the financial statements. tt also indudes an
assessment of the significant estimates and.iudgemens made b/
the Directors in the preparatinn of the financial statemenB, and
of whether the accounting policies are appropriate to the Groups
ciKumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the
informatron and explanations which vre consideted necessary
in oder to prwde us with sufficient evtdence to give reasonable
assurance that the financial statements are free from nntenal
misstatement, vvt€ther caused by fraud o other inegularity
or enor. ln forming our opinion vre also eualuated the overall
adequacy of the presentation of information in the financial
staternents.
Opinion
ln our opinion ttre financial statemens give a true and fair viaru
of the state of affaiB of the Company and of the Group as at
31 March 2000 and of th€ profit of the Group for the year tt€n
ended and hare been properly prepared in accordance with the
Companies Act 1985.
Emst & Young
Reginercd Auditor
London
22 May 2000
We read the other information contained in the Annual Report,
induding the Corporate Go€rnan€e Statement, and consider
whetlrer it is consistent wifl the audited financial statements.
We consider the implications for our report if we become aware
of any apparent missbternents or matenal inconsistencies with
the financial statemens.