RBS 2008 Annual Report Download - page 174

173RBS Group Annual Report and Accounts 2008
UK opinion
In our opinion:
•the Group financial statements give a true and fair view, in
accordance with IFRS as adopted by the European Union, of the
state of the Group’s affairs as at 31 December 2008 and of its loss
and cash flows for the year then ended;
•the company financial statements give a true and fair view, in
accordance with IFRS as adopted by the European Union as applied
in accordance with the provisions of the companies Act 1985, of the
state of affairs of the company as at 31 December 2008;
•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 and, as
regards the Group financial statements, Article 4 of the IAS
Regulation; and
•the information given in the directors’ report is consistent with the
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 IFRS as issued by the
International Accounting Standards Board (IASB).
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 2008 and of its loss 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 2008
and 2007 and the results of its operations and its cash flows for each of
the three years in the period ended 31 December 2008, in conformity
with IFRS as adopted for use in the European Union and IFRS as issued
by the IASB.
The financial statements for the year ended 31 December 2007 were
restated for the matters disclosed in Note 1 of the Accounting Polices.
We have also audited, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the Group’s
internal control over financial reporting as at 31 December 2008, based
on the criteria established in Internal Control-Integrated Framework
issued by the Committee of Sponsoring Organisations of the Treadway
Commission.
Our report dated 25 February 2009 which will be included in the Annual
Report on Form 20-F for the year ended 31 December 2008 to be filed
with the Securities and Exchange Commission, expressed an
unqualified opinion on the effectiveness of the Group’s internal control
over financial reporting of the Group.
Deloitte LLP
Chartered Accountants and Registered Auditors
Edinburgh, United Kingdom
25 February 2009
Neither an audit nor a review provides 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 information 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.