- Full 2007 Annual Report
- Annual Report
Summary Financial Statement
Auditors’ Statement
Independent auditors’ statement to the members of Smith & Nephew plc.
We have examined the Group’s Summary Financial Statement for the year ended 31 December 2007 which comprises the Group income statement, condensed Group statement of recognised income and expense, Group balance sheet, condensed Group cash flow statement and the related notes 1 to 15.
This report is made solely to the Company’s members as a body in accordance with Section 251 of the Companies Act 1985. To the fullest extent required by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditors
The directors are responsible for preparing the Summary Financial Statement in accordance with applicable law.
Our responsibility is to report to you our opinion on the consistency of the Summary Financial Statement with the full annual accounts, directors’ report and directors’ remuneration report, and its compliance with the relevant requirements of Section 251 of the Companies Act 1985 and the regulations made thereunder. We also read the other information contained in the Summary Financial Statement and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the Summary Financial Statement.
Basis of opinion
We conducted our examination in accordance with Bulletin 1999/6 ‘The auditors’ statement on the Summary Financial Statement’ issued by the Auditing Practices Board. Our report on the Company’s full annual accounts describes the basis of our audit opinions on those accounts and the directors’ remuneration report.
Opinion
In our opinion the Summary Financial Statement is consistent with the full annual accounts, the directors’ report and directors’ remuneration report of Smith & Nephew plc for the year ended 31 December 2007 and complies with the applicable requirements of Section 251 of the Companies Act 1985, and regulations made thereunder.
- Ernst & Young LLP
- Registered auditor
- London, 18 March 2008
Important Note
This Summary Financial Statement is a summary of information in the Group’s full annual accounts and was approved by the Board on 18 March 2008 and signed on its behalf by John Buchanan, David J. Illingworth and Adrian Hennah. It does not contain sufficient information to allow a full understanding of the results of the Group and state of affairs of the Company or of the Group. The report of the auditors on the full accounts for the year ended 31 December 2007 was unqualified and did not contain a statement made under either Section 237(2) of the Companies Act 1985 (accounting records or returns inadequate or accounts not agreeing with records or returns) or Section 237(3) (failure to obtain necessary information and explanations).
For further information the full accounts and the auditors’ report on those accounts should be consulted. Shareholders have the right to demand, free of charge, a copy of the Group’s full Annual Report, which may be obtained from the Company’s registrars.
The maintenance and integrity of the Smith & Nephew plc web site is the responsibility of the directors; the work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the Annual Report and Summary Financial Statement since they were initially presented on the web site.