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4Statement of Directors’ responsibilitiesin respect of the accountsThe Directors are required under the National Health Service Act1977 to prepare accounts for each financial year. The Secretaryof State, with the approval of the Treasury, directs that theseaccounts give a true and fair view of the state of affairs of theorganisation and the net operating cost, recognised gains andlosses and cash flows for the year. In preparing these accounts,Directors are required to:i. apply on a consistent basis accounting policies laid downby the Secretary of State with the approval of the Treasury;ii. make judgements and estimates which are reasonableand prudent;iii.state whether applicable accounting standards have beenfollowed, subject to any material departures disclosed andexplained in the accounts....these accountsgive a true andfair view of thestate of affairsof theorganisation...The Directors are responsible for keeping proper accountingrecords which disclose with reasonable accuracy at any timethe financial position of the organisation and to enable themto ensure that the accounts comply with requirements outlinedin the above mentioned direction of the Secretary of State. Theyare also responsible for safeguarding the assets of the healthauthority and hence for taking reasonable steps for theprevention of fraud and other irregularities.The directors confirm to the best of their knowledge and beliefthey have complied with the above requirements in preparingthe financial statements.By order of the board.Tim RideoutChief ExecutiveSue BishopFinance Director38 Leicester City PCT Annual Report 2006 - 07