annual report 2007 - the Admiral Group plc

ADMIRAL GROUP plc 49We read the other information containedin the Annual Report and consider whetherit is consistent with the audited financialstatements. We consider the implicationsfor our report if we become aware ofany apparent misstatements or materialinconsistencies with the financial statements.Our responsibilities do not extend to anyother information.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 financial statements and thepart of the Directors’ Remuneration Reportto be audited. It also includes an assessmentof the significant estimates and judgmentsmade by the Directors in the preparationof the financial statements, and of whetherthe accounting policies are appropriate tothe Group’s and Company’s circumstances,consistently applied and adequately disclosed.We planned and performed our audit so as toobtain all the information and explanationswhich we considered necessary in orderto provide us with sufficient evidence togive reasonable assurance that the financialstatements and the part of the Directors’Remuneration Report to be audited arefree from material misstatement, whethercaused by fraud or other irregularity or error.In forming our opinion we also evaluatedthe overall adequacy of the presentationof information in the financial statementsand the part of the Directors’ RemunerationReport to be audited.OpinionIn our opinion:· the Group financial statements give a true andfair view, in accordance with IFRSs as adoptedby the EU, of the state of the Group’s affairsas at 31 December 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 the IASRegulation;· the Parent Company financial statements givea true and fair view, in accordance with UKGenerally Accepted Accounting Practice, ofthe state of the Parent Company’s affairs as at31 December 2007 and of its profit for theyear then ended;· the Parent Company financial statements andthe part of the Directors’ RemunerationReport to be audited have been properlyprepared in accordance with the CompaniesAct 1985; and· the information given in the Directors’ Reportis consistent with the financial statements.KPMG Audit PlcChartered AccountantsRegistered AuditorCardiff3 March 2008Financial statements 43 - 94