Tesco 2009 Annual Report Download - page 138

136 FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
Independent auditors’ report to the members
of Tesco PLC
We have audited the parent company financial statements of Tesco PLC
for the 53 weeks ended 28 February 2009 which comprise the Balance
Sheet and the related notes. These parent company financial statements
have been prepared under the accounting policies set out therein. We have
also audited the information in the Directors’ Remuneration Report that is
described as having been audited.
We have reported separately on the Group financial statements of
Tesco PLC for the 53 weeks ended 28 February 2009.
Respective responsibilities of Directors and auditors
The Directors’ responsibilities for preparing the Annual Report, the
Directors’ Remuneration Report and the parent company financial
statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting
Practice) are set out in the Statement of Directors’ Responsibilities.
Our responsibility is to audit the parent company financial statements
and the part of the Directors’ Remuneration Report to be audited in
accordance with relevant legal and regulatory requirements and
International Standards on Auditing (UK and Ireland). This report,
including the opinion, has been prepared for and only for the parent
company’s members as a body in accordance with Section 235 of the
Companies Act 1985 and for no other purpose. We do not, in giving this
opinion, accept or assume responsibility for any other purpose or to any
other person to whom this report is shown or into whose hands it may
come save where expressly agreed by our prior consent in writing.
We report to you our opinion as to whether the parent company financial
statements give a true and fair view and whether the parent company
financial statements and the part of the Directors’ Remuneration Report
to be audited have been properly prepared in accordance with the
Companies Act 1985. We also report to you whether in our opinion the
information given in the Report of the Directors is consistent with the
parent company financial statements.
In addition we report to you if, in our opinion, the parent 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 other transactions is not disclosed.
We read other information contained in the Annual Report and consider
whether it is consistent with the audited parent company financial statements.
The other information comprises only the Introduction, the Financial
highlights, Chairman’s statement, Tesco at a glance, the Chief Executive’s
Q&A, the Report of the Directors, the Corporate governance statement,
the unaudited part of the Directors’ Remuneration Report and the Five
year record. We consider the implications for our report if we become
aware of any apparent misstatements or material inconsistencies with the
parent company financial statements. Our responsibilities do not extend to
any other information.
Basis of audit opinion
We conducted our audit in accordance with International Standards on
Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit
includes examination, on a test basis, of evidence relevant to the amounts
and disclosures in the parent company financial statements and the part
of the Directors’ Remuneration Report to be audited. It also includes an
assessment of the significant estimates and judgments made by the
Directors in the preparation of the parent company financial statements,
and of whether the accounting policies are appropriate to the parent
company’s circumstances, 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 parent
company financial statements and the part of the Directors’ Remuneration
Report to be 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 parent company financial statements and the part of the Directors’
Remuneration Report to be audited.
Opinion
In our opinion:
the parent company financial statements give a true and fair 
view, in accordance with United Kingdom Generally Accepted
Accounting Practice, of the state of the parent company’s affairs
as at 28 February 2009;
the parent company financial statements and the part of the Directors’ 
Remuneration Report to be audited have been properly prepared in
accordance with the Companies Act 1985; and
the information given in the Report of the Directors is consistent with 
the parent company financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
London 1 May 2009