BP 2006 Annual Report Download - page 96
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94
Statement of directors’ responsibilities in respect of the consolidated financial statements
The directors are responsible for preparing the Annual Report and the consolidated financial statements in accordance with applicable UK law and those
International Financial Reporting Standards (IFRS) adopted by the EU.
The directors are required to prepare financial statements for each financial year which present fairly the financial position of the group and the
financial performance and cash flows of the group for that period. In preparing those financial statements, the directors are required to:
– Select suitable accounting policies and then apply them consistently.
– Present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information.
– Provide additional disclosure when compliance with the specific requirements of IFRS is insufficient to enable users to understand the impact of
particular transactions, other events and conditions on the group’s financial position and financial performance.
– State that the company has complied with IFRS, subject to any material departures disclosed and explained in the financial statements.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the
group and enable them to ensure that the financial statements comply with the Companies Act 1985 and Article 4 of the IAS Regulation. They are also
responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The directors confirm that they have complied with these requirements and, having a reasonable expectation that the group has adequate resources
to continue in operational existence for the foreseeable future, continue to adopt the going concern basis in preparing the financial statements.
Having made the requisite enquiries, so far as the directors are aware, there is no relevant audit information (as defined by Section 234ZA of the
Companies Act 1985) of which the group’s auditors are unaware, and the directors have taken all the steps they ought to have taken to make
themselves aware of any relevant audit information and to establish that the group’s auditors are aware of that information.