EirGrid plc Annual Report 2011

EirGrid plc Annual Report & Accounts 2011
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 directors in the preparation of the financial
statements and of whether the accounting policies
are appropriate to the company’s 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
evaluated the overall adequacy of the presentation
of information in the financial statements.
In our opinion:
• the Group Financial Statements give a true and
fair view, in accordance with IFRSs as adopted
by the European Union, of the state of the affairs
of the Group as at 30 September 2011 and of its
profit for the year then ended;
• the Group Financial Statements have been
properly prepared in accordance with the
Companies Acts, 1963 to 2009;
• the Parent Company Financial Statements
give a true and fair view, in accordance with
IFRSs, as adopted by the European Union as
applied in accordance with the provisions of the
Companies Acts 1963 to 2009, of the state of the
Parent Company’s affairs as at 30 September
2011; and
• the Parent Company Financial Statements have
been properly prepared in accordance with the
Companies Acts, 1963 to 2009.
We have obtained all the information and
explanations we considered necessary for the
purpose 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 are more than half the
amount of its called-up share capital and, in our
opinion, on that basis there did not exist at 30
September 2011 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.
Marguerite Larkin
For and on behalf of Deloitte & Touche
Chartered Accountants and Registered Auditors
Dublin
Date: 21 December 2011
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