Summary financial statements (5 of 5)

Summary corporate governance statement

The council has adopted the provisions of section 1 of the Combined Code prepared by the committee on corporate governance, to the extent appropriate. During the year the council has monitored and assessed key risks in compliance with the guidance Internal control: guidance for directors on the combined code. The full corporate governance statement is set out in the financial statements for the year ended 31 December 2006.

Independent auditors’ statement to the members of The Institute of Chartered Accountants in England and Wales

We have examined the group and Institute summary financial statements, which comprise the summary income statements, balance sheets, cash flow statements and notes to the summary financial statements. This report is made solely to the Institute’s members, as a body. Our audit work has been undertaken so that we might state to the Institute’s members those matters we are required to state to them in an auditors’ 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 Institute and the Institute’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the council and auditors

The council is responsible for preparing the annual review and the summary financial statements. Our responsibility is to report to you our opinion on the consistency of the summary financial statements within the annual review with the full annual report and financial statements. We also read the other information contained in the annual review and consider the implications for our report if we become aware of any apparent mis-statements or material inconsistencies with the summary financial statements.

Basis of audit opinion

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board.

Opinion

In our opinion, the summary financial statements are consistent with the full financial statements of The Institute of Chartered Accountants in England and Wales for the year ended 31 December 2006 on which we expressed an unqualified audit opinion in our report dated 20 March 2007.

RSM Robson Rhodes LLP
Chartered Accountants and Registered Auditors
London, England
20 March 2007

  Pg1 - Summary group income statement
  Pg2 - Summary institute income statement
  Pg3 - Summary balance sheets
  Pg4 - Summary cash flow statements

   Download full financial statements 2006 - (PDF/263kb)