24 AVESCOGROUPPLC ANNUAL REPORT 2009
www.avesco.com
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the Group and
parent Company financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. Under company
law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the
Company and of the profit or loss of the group for that period. In preparing these financial statements, the Directors are required to:
> select suitable accounting policies and then apply them consistently;
> make judgements and accounting estimates that are reasonable and prudent;
> state whether applicable IFRSs as adopted by the European Union have been followed, subject to any material departures disclosed and explained in the
financial statements;
> prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with
reasonable accuracy at any time the financial position of the Company and the Group and enable them to ensure that the financial statements comply with the
Companies Act 2006. 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.
The Directors are responsible for the maintenance and integrity of the Company’s website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
By order of the Board
Nicholas Conn
Company Secretary
14 January 2010
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