ANNUAL REPORT 2011 - Horse Racing Ireland

STATEMENT OF MEMBERS’ RESPONSIBILITIESThe members of Horse Racing Ireland are required to prepare financial statements for each financial yearwhich give a true and fair view of the state of affairs of Horse Racing Ireland and the Group and of the result forthe Group for that period. In preparing those financial statements, the members of Horse Racing Ireland arerequired 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 HorseRacing Ireland and the Group will continue in business; and- state whether applicable accounting standards have been followed, subject to any material departuresdisclosed and explained in the financial statements.The members of Horse Racing Ireland are responsible for keeping proper books of account which disclose with reasonableaccuracy at any time the financial position of the Group and to enable them to ensure that the financial statements are prepared inaccordance with accounting standards generally accepted in Ireland. They are also responsible for safeguarding the assets ofHorse Racing Ireland and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.Denis Brosnan, Roderick Ryan, 6th July 2012Chairperson Vice Chairperson Date24 Horse Racing Ireland Annual Report 2011