|
|
|
|
|
 |
CORPORATE GOVERNANCE / REPORT OF INDEPENDANT AUDITORS
We have audited the financial statements of Amlin plc for the year
ended 31 December 2004 which comprise the profit and loss account,
the balance sheets, the consolidated cash flow statement, the statement
of accounting policies and the related notes numbered 1 to 33. These
financial statements have been prepared under the accounting policies
set out therein. We have also audited the information in the part of the
directors’ remuneration report that is described as having been audited.
This report is made solely to the Company’s members, as a body, in
accordance with section 235 of the Companies Act 1985. Our audit
work has been undertaken so that we might state to the Company’s
members those matters we are required to state to them in an auditors’
report and for 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.
Respective responsibilities of directors and auditors
As described in the statement of directors’ responsibilities, the
Company’s directors are responsible for the preparation of the financial
statements in accordance with applicable United Kingdom law and
accounting standards. They are also responsible for the preparation
of the other information contained in the annual report including the
directors’ remuneration report. Our responsibility is to audit the
financial statements and the part of the directors’ remuneration report
described as having been audited in accordance with relevant United
Kingdom legal and regulatory requirements and auditing standards.
We report to you our opinion as to whether the financial statements give
a true and fair view and whether the financial statements and the part
of the directors’ remuneration report described as having been audited
have been properly prepared in accordance with the Companies Act
1985. We also report to you if, in our opinion, the directors’ report is
not consistent with the financial statements, if the Company has not
kept proper accounting records, if we have not received all the
information and explanations we require for our audit, or if information
specified by law regarding directors’ remuneration and transactions with
the Company and other members of the Group is not disclosed.
We review whether the corporate governance statements reflect the
Company’s compliance with the nine provisions of the July 2003 FRC
Combined Code specified for our review by the Listing Rules of the
Financial Services Authority, and we report if it does not. We are not
required to consider whether the Board’s statements on internal control
cover all risks and controls, or form an opinion on the effectiveness of
the Group’s corporate governance procedures or its risk and control
procedures.
We read the directors’ report and the other information contained in the
annual report for the above year as described in the contents section
including the unaudited part of the directors’ remuneration report and
consider the implications for our report if we become aware of any
apparent misstatements or material inconsistencies with the financial
statements.
Basis of audit opinion
We conducted our audit in accordance with United Kingdom auditing
standards issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts and
disclosures in the financial statements and the part of the directors’
remuneration report described as having been audited. It also includes
an assessment of the significant estimates and judgements made by
the directors in the preparation of the financial statements and of
whether the accounting policies are appropriate to the circumstances of
the Company and the Group, consistently applied and adequately
disclosed.
We planned and performed our audit so as to obtain all the information
and explanations which we considered necessary in order to provide us
with sufficient evidence to give reasonable assurance that the financial
statements and the part of the directors’ remuneration report described
as having been audited are free from material misstatement, whether
caused by fraud or other irregularity or error. In forming our opinion, we
also evaluated the overall adequacy of the presentation of information
in the financial statements and the part of the directors’ remuneration
report described as having been audited.
Opinion
In our opinion
- the financial statements give a true and fair view of the state of
affairs of the Company and the Group as at 31 December 2004 and
of the profit of the Group for the year then ended; and
- the financial statements and the part of the directors’ remuneration
report described as having been audited have been properly prepared
in accordance with the Companies Act 1985.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
London
7 March 2005
Notes: An audit does not provide assurance on the maintenance and integrity of the website, including controls used to achieve this, and in particular on whether any changes may have occurred to the financial statements since first published. These matters are the responsibility of the directors but no control procedures can provide absolute assurance in this area.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements differs from legislation in other jurisdictions.
|
|
|
|
  |
|
|
|
|
