Here - RTÉ

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