REG - Serco Group PLC - Annual Financial Report <Origin Href="QuoteRef">SRP.L</Origin> - Part 3

SercoAnnouncement

24/03/2016 13:52

- Part 3: For the preceding part double click  ID:nRSX2025Tb 

to read other information in the Annual Report   Under International Standards on Auditing (UK and Ireland), we are required to report to you if, in our opinion, information in the annual report is:• materiallyinconsistent withthe information inthe audited financialstatements; or• apparently materially  
                                                           incorrect based on, or materially inconsistent with, our knowledge of the Group acquired in the course of performing our audit; or• otherwise misleading. Inparticular, we arerequired to consider whetherwe have identifiedany inconsistencies between our     
                                                           knowledge acquired during the audit and the Directors' statement that they consider the annual report is fair, balanced and understandable and whether the annual report appropriately discloses those matters that we communicated to the audit committee which 
                                                           we consider should have been disclosed.Weconfirm thatwe havenot identifiedanysuch inconsistenciesor misleadingstatements.                                                                                                                                       
 Respectiveresponsibilities of Directors and auditor       AsexplainedmorefullyintheDirectors'ResponsibilitiesStatement,theDirectorsareresponsiblefor thepreparationofthefinancialstatementsandforbeingsatisfiedthattheygiveatrueandfairview.                                                                              
                                                           Ourresponsibilityistoauditandexpressanopiniononthefinancialstatementsinaccordance withapplicablelawandInternationalStandardsonAuditing(UKandIreland). Wealsocomplywith InternationalStandardonQualityControl1(UKandIreland).Ourauditmethodologyandtoolsaimto    
                                                           ensurethatourqualitycontrolproceduresareeffective,understoodandapplied.Ourqualitycontrols andsystemsincludeourdedicatedprofessionalstandardsreviewteamandindependentpartnerreviews. This report is made solely to the company's members, as a body, in          
                                                           accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to thecompany'smembersthosematterswearerequiredtostatetotheminanauditor'sreportandfor no other purpose. To the fullest extent         
                                                           permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.                                                      
 Scope of the audit of the financial statements            Anaudit involves obtainingevidence about the amountsand disclosures inthe financial statements sufficienttogive reasonableassurancethat thefinancial statementsarefree frommaterial misstatement, whether caused by fraud or error. This includes an assessment 
                                                           of: whether the accounting policies are appropriate to the Group's and the Parent company's circumstances andhave been consistentlyapplied and adequatelydisclosed; the reasonablenessof significant                                                            
                                                           accountingestimatesmadebytheDirectors;andtheoverallpresentationofthefinancialstatements. Inaddition, weread allthe financialand non-financialinformation inthe annualreport toidentify materialinconsistencies with theaudited financial statements andto       
                                                           identify anyinformation that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by usinthecourseofperformingtheaudit.Ifwebecomeawareofanyapparentmaterialmisstatements or inconsistencies we consider the     
                                                           implications for our report                                                                                                                                                                                                                                     
 
 
Anaudit involves obtainingevidence about the amountsand disclosures inthe financial statements sufficienttogive
reasonableassurancethat thefinancial statementsarefree frommaterial misstatement, whether caused by fraud or error. This
includes an assessment of: whether the accounting policies are appropriate to the Group's and the Parent company's
circumstances andhave been consistentlyapplied and adequatelydisclosed; the reasonablenessof significant
accountingestimatesmadebytheDirectors;andtheoverallpresentationofthefinancialstatements. Inaddition, weread allthe
financialand non-financialinformation inthe annualreport toidentify materialinconsistencies with theaudited financial
statements andto identify anyinformation that is apparently materially incorrect based on, or materially inconsistent with,
the knowledge acquired by usinthecourseofperformingtheaudit.Ifwebecomeawareofanyapparentmaterialmisstatements or
inconsistencies we consider the implications for our report 
 
Andrew J. Kelly FCA (Senior statutory auditor) for and on behalf of Deloitte LLP 
 
Chartered Accountants and Statutory Auditor London, UK 
 
25 February 2016 
 
Directors' responsibilities statement (page 151) 
 
The Directors are responsible for preparing the annual report and financial statements in accordance with applicable law
and regulations. 
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors
are required to prepare the Group financial statements in accordance with International Financial Reporting Standards
(IFRS) as adopted by the European Union and Article 4 of the IAS Regulation and have elected to prepare the Parent Company
financial statements in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework. Under company law
the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of
affairs of the Company and of the profit or loss of the Company for that period. 
 
In preparing the Parent Company financial statements, the Directors are required to: 
 
•    select suitable accounting policies and then apply them consistently; 
 
•    make judgements and accounting estimates that are reasonable and prudent; 
 
•    state whether Financial Reporting Standard 101 Reduced Disclosure Framework has been followed, subject to any material
departures disclosed and explained in the financial statements; and 
 
•    prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company
will continue in business. 
 
In preparing the Group financial statements, International Accounting Standard 1 requires that Directors: 
 
•    properly select and apply accounting policies; 
 
•    present information, including accounting policies, in a manner that provides relevant, reliable, comparable and
understandable information; 
 
•    provide additional disclosures when compliance with the specific requirements in IFRS are insufficient to enable users
to understand the impact of particular transactions, other events and conditions on the entity's financial position and
financial performance; and 
 
•    make an assessment of the Company's ability to continue as a going concern. 
 
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's
transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities. 
 
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the
Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdictions. 
 
Responsibility statement 
 
We confirm that to the best of our knowledge: 
 
1.            The financial statements, prepared in accordance with International Financial Reporting Standards as adopted
by the EU, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and
the undertakings included in the consolidation taken as a whole. 
 
2.            The Strategic Report includes a fair review of the development and performance of the business and the
position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of
the principal risks and uncertainties that they face. 
 
3.            The annual report and financial statements, taken as a whole, are fair, balanced and understandable and
provide the information necessary for shareholders to assess the Company's performance, business model and strategy. 
 
Sir Roy Gardner - Chairman 
 
Rupert Soames OBE - Chief Executive Officer 
 
Edward J Casey, Jr - Chief Operating Officer 
 
Angus Cockburn - Chief Financial Officer 
 
Mike Clasper - Senior Independent Director and Non-Executive Director 
 
Ralph D Crosby, Jr - Non-Executive Director 
 
Tamara Ingram - Non-Executive Director 
 
Rachel Lomax - Non-Executive Director 
 
Angie Risley - Non-Executive Director 
 
Malcolm Wyman - Non- Executive Director 
 
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