RBS 2006 Annual Report Download - page 130
Download and view the complete annual report
Please find page 130 of the 2006 RBS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1
-
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
-
258
-
259
-
260
-
261
-
262
129
RBS Group • Annual Report and Accounts 2006
Financial statements
Separate opinion in relation to IFRS
As explained in the accounting policies, the Group, in addition to
complying with its legal obligation to comply with IFRS as
adopted by the European Union, has also complied with the IFRS
as issued by the International Accounting Standards Board.
In our opinion the financial statements give a true and fair view, in
accordance with IFRS, of the state of the Group’s affairs as at 31
December 2006 and of its profit and cash flows for the year then
ended.
US opinion
In our opinion, the financial statements present fairly, in all material
respects, the financial position of the Group as at 31 December
2006 and 2005 and the results of its operations and its cash
flows for each of the three years in the period ended 31
December 2006, in accordance with IFRS.
IFRS vary in certain significant respects from accounting
principles generally accepted in the United States of America.
Information relating to the nature and the effect of such
differences is presented in Note 47 to the financial statements.
We have also audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States),
the effectiveness of the Group’s internal control over financial
reporting as at 31 December 2006, based on the criteria
established in Internal Control-Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway
Commission. Our report dated 28 February 2007 which will be
included in the Annual Report on Form 20-F for the year ended
31 December 2006 to be filed with the Securities and Exchange
Commission expressed an unqualified opinion on management’s
assessment of the effectiveness of the Group’s internal control
over financial reporting and an unqualified opinion on the
effectiveness of the Group’s internal control over financial
reporting.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
Edinburgh, United Kingdom
28 February 2007