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RADIO TELEFÍS ÉIREANN Statement of Authority Members’ Responsibilities for the year ended 31 December 2008 The members of the RTÉ Authority, appointed on 24 February 2009, are responsible for preparing the Annual Report and the Group and RTÉ financial statements in accordance with applicable laws and regulations. The outgoing Authority’s term of office ended on 31 December 2008. Broadcasting legislation requires the RTÉ Authority to prepare Group and RTÉ financial statements for each financial year. Under that legislation, the RTÉ Authority members have elected to prepare the Group financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU and have elected to prepare the RTÉ financial statements on the same basis. The Group and RTÉ financial statements are required by law and IFRSs as adopted by the EU to present fairly the financial position and performance of the Group and RTÉ. In preparing each of the Group and RTÉ financial statements, the RTÉ Authority members are required to: • select suitable accounting policies and then apply them consistently • make judgements and estimates that are reasonable and prudent • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group and RTÉ will continue in business. The RTÉ Authority members are responsible for keeping proper books of account which disclose with reasonable accuracy at any time the financial position of the Group and RTÉ and which enable them to ensure that the financial statements comply with broadcasting legislation. They are also responsible for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities. The RTÉ Authority members are responsible for ensuring that the corporate governance statement on pages 32 to 34 reflects the Group’s compliance with the Code of Practice for the Governance of State Bodies. The RTÉ Authority members are responsible for the maintenance and integrity of the corporate and financial information included on the Group’s website. Legislation in the Republic of Ireland governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. On behalf of the Authority Tom Savage Chairman 30 April 2009 Patricia Quinn Authority Member and Chairman of the Audit Committee Cathal Goan Director-General 36
ANNUAL REPORT & GROUP FINANCIAL STATEMENTS 2008 Independent Auditor’s Report for the year ended 31 December 2008 As Auditors appointed by the Minister for Communications, Energy and Natural Resources, we have audited the RTÉ and Group financial statements (‘the financial statements’) for the year ended 31 December 2008 which comprise the Group Income Statement, the RTÉ and Group Balance Sheets, the RTÉ and Group Cash Flow Statements, the RTÉ and Group 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 Minister for Communications, Energy and Natural Resources (the “Minister”). Our audit work has been undertaken so that we might state to the Minister those matters we are required to state to him in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RTÉ and the Minister, for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of the Authority and auditors The Authority members’ responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and International Financial Reporting Standards (IFRSs) as adopted by the EU are set out in the Statement of Authority Members’ Responsibilities on page 36. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory responsibilities and International Standards on Auditing (UK 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 adopted by the EU and, in the case of RTÉ as applied in accordance with the provisions of broadcasting legislation. We also report to you whether, in our opinion, proper books of account have been kept by RTÉ and whether the information in the Annual 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 RTÉ financial statements are in agreement with the books of account. We review, at the request of the Authority, whether the Group’s voluntary statement on its compliance with the Combined Code on Corporate Governance on page 32 reflects the Group’s compliance with the nine provisions of the 2006 FRC Combined Code specified for auditor 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 Authority’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. We read the other information contained in the Annual Report and consider whether it is consistent with the audited financial statements. This other information comprises the Authority Members’ report, the Chairman’s statement, the Director-General’s review, operational review, financial review and corporate governance statement. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information. Basis of audit opinion We conducted our audit in accordance with International Standards on Auditing (UK 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 Authority in the preparation of the financial statements, and of whether the accounting policies are appropriate to RTÉ and the Group’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 Group financial statements give a true and fair view, in accordance with IFRSs as adopted by the EU, of the state of the Group’s affairs as at 31 December 2008 and of its surplus for the year then ended; • the RTÉ financial statements give a true and fair view in accordance with IFRSs as adopted by the EU and as applied in accordance with the provisions of broadcasting legislation, of the state of RTÉ’s affairs as at 31 December 2008; and • the financial statements have been properly prepared in accordance with broadcasting legislation. We have obtained all the information and explanations we considered necessary for the purposes of our audit. In our opinion, proper books of account have been kept by RTÉ. RTÉ’s balance sheet is in agreement with the books of account. In our opinion, the information given in the Authority members’ report is consistent with the financial statements. KPMG Chartered Accountants Registered Auditor Dublin 30 April 2009 37
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