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Annual Report & Accounts 2014 - INDEPENDENT AUDITORS REPORT
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we have audited the Group financial statements of GVc holdings plc for the year ended 31 december 2014 which comprise the consolidated income statement, the consolidated statement of comprehensive income, the consolidated balance sheet, the consolidated statement of changes in equity, the consolidated statement of cash flows and the related notes. the financial reporting framework that has been applied in the preparation of the Group financial statements is applicable law and international financial reporting standards (ifrss) as adopted by the european union. this report is made solely to the company's members, as a body. our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. to the fullest extent permitted 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 auditor As explained more fully in the directors' responsibilities statement on page 20, the directors are responsible for the preparation of the Group financial statements which give a true and fair view. our responsibility is to audit and express an opinion on the Group financial statements in accordance with applicable law and international standards on Auditing (uK and ireland). those standards require us to comply with the Auditing practices board's ethical standards for Auditors. scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the Group financial statements sufficient to give reasonable assurance that the Group financial statements are free from material misstatement, whether caused by fraud or error. this includes an assessment of: whether the accounting policies are appropriate to the Group's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the Group financial statements. in addition, we read all the financial and non-financial information in the Annual report to identify material inconsistencies with the audited consolidated 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 our audit. if we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report. opinion on financial statements in our opinion the Group financial statements: • give a true and fair view, of the state of the Group's affairs as at 31 december 2014 and of its profit for the year then ended; and • have been properly prepared in accordance with ifrss (as adopted by the european union). other matter we have reported separately on the parent company financial statements of GVc holdings plc for the year ended 31 december 2014. Grant thornton uK llp chartered Accountants london 20 March 2015 GVC HOLDINGS PLC ANNUAL REPORT 2014 21 independent auditor's report to tHe memBers of GVc HoldinGs plc auditor's report and primary financial statements