2568.11 kb - Compass Group

40 Compass Group PLC Annual Report 2007Independent auditors’ report to themembers of Compass Group PLCIntroductionWe have audited the Group financialstatements of Compass Group PLC for theyear ended 30 September 2007 whichcomprise the consolidated income statement,the consolidated statement of recognisedincome and expense, the consolidated balancesheet, the consolidated cash flow statement,the accounting policies and the related notes1 to 37. These Group financial statementshave been prepared under the accountingpolicies set out therein. We have also auditedthe information in the Directors’ remunerationreport that is described as having been audited.We have reported separately on the parentcompany financial statements of Compass GroupPLC for the year ended 30 September 2007.This report is made solely to the Company’smembers, as a body, in accordance withsection 235 of the Companies Act 1985.Our audit work has been undertaken so thatwe might state to the Company’s membersthose matters we are required to state tothem in an auditors’ report and for no otherpurpose. To the fullest extent permitted by law,we do not accept or assume responsibility toanyone other than the Company and theCompany’s members as a body, for our auditwork, for this report, or for the opinions wehave formed.Respective responsibilities ofdirectors and auditorsThe directors’ responsibilities for preparingthe Annual Report, the Directors’remuneration report and the Group financialstatements in accordance with applicablelaw and International Financial ReportingStandards (IFRSs) as adopted by theEuropean Union are set out in the statementof directors’ responsibilities.Our responsibility is to audit the Groupfinancial statements in accordance withrelevant legal and regulatory requirementsand International Standards on Auditing(UK and Ireland).We report to you our opinion as to whetherthe Group financial statements give a trueand fair view, whether the Group financialstatements have been properly prepared inaccordance with the Companies Act 1985 andArticle 4 of the IAS Regulation and whetherthe part of the Directors’ remuneration reportdescribed as having been audited has beenproperly prepared in accordance with theCompanies Act 1985. We also report to youwhether in our opinion the information givenin the Directors’ Report is consistent with theGroup financial statements.In addition we report to you if, in our opinion,we have not received all the informationand explanations we require for our audit,or if information specified by law regardingdirectors’ remuneration and other transactionsis not disclosed.We review whether the Corporate GovernanceStatement reflects the Company’s compliancewith the nine provisions of the 2003 CombinedCode specified for our review by the ListingRules of the Financial Services Authority, andwe report if it does not. We are not requiredto consider whether the Board’s statements oninternal control cover all risks and controls,or form an opinion on the effectiveness of theGroup’s corporate governance procedures orits risk and control procedures.We read the other information contained inthe Annual Report as described in the contentssection and consider whether it is consistentwith the audited Group financial statements.We consider the implications for our reportif we become aware of any apparentmisstatements or material inconsistencieswith the Group financial statements. Ourresponsibilities do not extend to any furtherinformation outside the Annual Report.Basis of audit opinionWe conducted our audit in accordance withInternational Standards on Auditing (UK andIreland) issued by the Auditing Practices Board.An audit includes examination, on a test basis,of evidence relevant to the amounts anddisclosures in the Group financial statementsand the part of the Directors’ remunerationreport to be audited. It also includes anassessment of the significant estimates andjudgements made by the directors in thepreparation of the Group financial statements,and of whether the accounting policies areappropriate to the Group’s circumstances,consistently applied and adequately disclosed.We planned and performed our audit so asto obtain all the information and explanationswhich we considered necessary in order toprovide us with sufficient evidence to givereasonable assurance that the Group financialstatements and the part of the Directors’remuneration report to be audited are freefrom material misstatement, whether causedby fraud or other irregularity or error. Informing our opinion we also evaluated theoverall adequacy of the presentation ofinformation in the Group financial statementsand the part of the Directors’ remunerationreport to be audited.OpinionIn our opinion:the Group financial statements give atrue and fair view, in accordance withIFRSs as adopted by the European Union,of the state of the Group’s affairs as at30 September 2007 and of its profit forthe year then ended;the Group financial statements have beenproperly prepared in accordance with theCompanies Act 1985 and Article 4 of theIAS Regulation;the part of the Directors’ remunerationreport described as having been auditedhas been properly prepared in accordancewith the Companies Act 1985; andthe information given in the Directors’Report is consistent with the Groupfinancial statements.Deloitte & Touche LLPChartered Accountants and Registered AuditorsLondon28 November 2007