Independent auditors’ report to the members of John Lewis Partnership plc (continued) 160 John Lewis Partnership plc Annual Report and Accounts 2016


Corporate Governance Statement


The Directors have requested that we review the parts of the Corporate Governance Statement relating to the Partnership’s compliance with the ten further provisions of the UK Corporate Governance Code specified for auditor review by the listing rules for Companies with a premium listing on the London Stock Exchange. We have nothing to report having performed our review.


Responsibilities for the financial statements and the audit


Our responsibilities and those of the Directors As explained more fully in the Statement of Directors’ Responsibilities set out on page 153, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.


Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and ISAs (UK & Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.


This report, including the opinions, has been prepared for and only for the Company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, 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.


What an audit of financial statements involves


An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of:


aWhether the accounting policies are appropriate to the Partnership’s and the Company’s circumstances and have been consistently applied and adequately disclosed;


a The reasonableness of significant accounting estimates made by the Directors; and a The overall presentation of the financial statements.


We primarily focus our work in these areas by assessing the Directors’ judgements against available evidence, forming our own judgements, and evaluating the disclosures in the financial statements.


We test and examine information, using sampling and other auditing techniques, to the extent we consider necessary to provide a reasonable basis for us to draw conclusions. We obtain audit evidence through testing the effectiveness of controls, substantive procedures or a combination of both.


In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.


Ranjan Sriskandan (Senior Statutory Auditor)


for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors London 14 April 2016


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