RBS 2007 Annual Report Download - page 118

RBS Group • Annual Report and Accounts 2007
116
Governance
Statement of directors’ responsibilities
The directors are required by Article 4 of the IAS Regulation
(European Commission Regulation No 1606/2002) to prepare
Group accounts, and as permitted by the Companies Act 1985
have elected to prepare company accounts, for each financial
year in accordance with International Financial Reporting
Standards as adopted by the European Union. They are
responsible for preparing accounts that present fairly the
financial position, financial performance and cash flows of the
Group and the company. In preparing those accounts, the
directors are required to:
•select suitable accounting policies and then apply them
consistently;
•make judgements and estimates that are reasonable and
prudent; and
•state whether applicable accounting standards have been
followed, subject to any material departures disclosed and
explained in the accounts.
The directors are responsible for keeping proper accounting
records which disclose with reasonable accuracy at any time
the financial position of the Group and to enable them to
ensure that the Annual Report and Accounts complies with the
Companies Act 1985. They are also responsible for
safeguarding the assets of the company and the Group and
hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
By order of the Board.
Miller McLean
Secretary
27 February 2008