Directors' report - the Admiral Group plc

DIRECTORS’ REPORTPAGES 37 38Annual General MeetingIt is proposed that the next AGMbe held at The Celtic Manor Resort,Coldra Woods, Chepstow Rd, Newport,Gwent NP18 1HQ on 18 May 2005, at11.00 am, notice of which is set outat the back of the report and accounts.Directors’ responsibilitiesCompany law requires the directors toprepare financial statements for eachfinancial year which give a true and fairview of the state of affairs of theCompany and Group and of the profit orloss for that period. In preparing thosefinancial statements, the directors arerequired to:• select suitable accounting policiesand then apply them consistently• make judgements and estimates thatare reasonable and prudent• state whether applicable accountingstandards have been followed, subjectto any material departures disclosedand explained in the financialstatements• prepare the financial statements onthe going concern basis unless it isinappropriate to presume that theGroup will continue in businessThe directors are responsible for keepingproper accounting records which disclosewith reasonable accuracy at any time thefinancial position of the Company and toenable them to ensure that the financialstatements comply with the CompaniesAct 1985. They have general responsibilityfor taking such steps as are reasonablyopen to them to safeguard the assets ofthe Group and to prevent and detectfraud and other irregularities.AuditorThe Company’s auditor, KPMG Audit Plc,has indicated willingness to continue inoffice and as stated above, resolutions toreappoint it and to authorise thedirectors to fix its remuneration will beproposed at the Annual General Meeting.By order of the BoardStuart ClarkeCompany Secretary18 March 2005