Ashes commentary

Category: Finances

The Independent Auditor's statement on the BBC's finances for 2013/14.

Independent auditor's statement to the trustees of the British Broadcasting Corporation ("BBC")

Independent statement of KPMG LLP to the British Broadcasting Corporation

We have examined the summary financial information of the British Broadcasting Corporation (‘the BBC’ or ‘the Corporation’) for the year ended 31 March 2014 which comprises the Consolidated income statement, the Consolidated balance sheet and the Consolidated cash flow statement in Part Two of the BBC’s Annual Report.

This statement is made solely to the Corporation on terms that have been agreed with the Corporation. Our work has been undertaken so that we might state to the Corporation those matters we have agreed to state to it in such a statement and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Corporation for our work, for this statement, or for the opinions we have formed.

Respective responsibilities of directors and KPMG LLP

As explained more fully in the Statement of Executive Board Responsibilities, the Executive Board have accepted responsibility for preparing the summary financial information within Part Two of the BBC’s Annual Report which are intended by them to be consistent with the full annual financial statements of the Corporation.

Our responsibility is to report to the Corporation our opinion on the consistency of the summary financial information within Part Two of the BBC’s Annual Report with the full annual financial statements of the Corporation.

Basis of opinion

Our examination of the summary financial information consisted primarily of:

  • „„agreeing the amounts and disclosures included in the summary financial information to the corresponding items within the full annual financial statements of the Corporation for the year ended 31 March 2014, including consideration of whether, in our opinion, the information in the summary financial information has been summarised in a manner which is not consistent with the full annual financial statements of the Corporation for that year; and
  • „„considering whether, in our opinion, information has been omitted that it is necessary to include to achieve consistency with the full annual financial statements of the Corporation for the year ended 31 March 2014.

We also read the other information contained in Part Two of the BBC’s Annual Report and consider the implications for our statement if we become aware of any apparent misstatements or material inconsistencies with the summary financial information.

This engagement is separate from the audit of the annual financial statements of the Corporation and the report here relates only to the consistency of the summary financial information with the annual financial statements and does not extend to the annual financial statements taken as a whole.

As set out in our Audit report on those financial statements, that Audit report is made solely to the BBC’s Trustees on terms that have been agreed. Our audit work has been undertaken so that we might state to the BBC’s Trustees those matters we are required to state to them in an auditor’s report and, in respect of the separate opinions in relation to the Remuneration reports and reporting on Corporate Governance, those matters that we have agreed to state to them in our 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 BBC and the BBC’s Trustees as a body, for that audit work, for the Audit report, or for the opinions we have formed in respect of that audit.

Opinion on summary financial information

On the basis of the work performed, in our opinion the summary financial information is consistent with the full annual financial statements of the Corporation for the year ended 31 March 2014.

Jonathan Downer
For and on behalf of KPMG LL P, Chartered Accountants 
15 Canada Square, London E14 5GL
19 June 2014

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