Vodafone’s financial statement follows all standards and requirements of an annual report. The numbers are accurate and truthful. The Vodafone’s report follows the standards and requirement of an annual report. The values reported are correct and truthful. It shows, in the auditor’s opinion, that Vodafone’s financial statements was properly prepared and gave a true and fair view of the company’s state of affairs as of 31 March 2015. It also shows what parts of the financial statements were audited. The auditing and preparation of the financial statements was done by PricewaterhouseCoopers and done in accordance with the IFRS accounting standards and principles. Vodafone operates in 26 countries across the world, for accounting purposes, those 26 countries have been divided into 2 main groups, namely – Europe and AMAP. The report is conducted in accordance with International Standards on Auditing (UK and Ireland) (‘ISAs (UK and Ireland)’). Vodafone’s annual report is true and is with compliance with IFRSs. We identified eight local operations which, in our view, required an audit of their complete financial information including, but not limited to, the Carrying value of goodwill and IT systems and controls. There were a few areas that we paid a little more attention to as it was a little more complicated. As a whole everything was done in accordance to IFRS rules and all is good. Vodafone’s financial statements offer a true and unbiased view of the state of the company as of 31 March 2015 and comply with the IFRSs’, United Kingdom Generally Accepted Accounting Practice, requirements of the Companies Act 2006 and, as regards the Group financial statements, Article 4 of the IAS Regulation. The financial statements audited (as at 31 March 2015) comprise: the consolidated statement of financial position the Company balance sheet the consolidated income statement the consolidated statement of comprehensive income the consolidated statement of cash flows the consolidated statement of changes in equity the reserves and reconciliation of movements in equity shareholders’ funds the notes to the financial statements, which include a summary of significant accounting policies and other explanatory information In general, the annual report for Vodafone was reported per accounting requirements and frameworks and the finance of the company is also relatively good. However, there are certain state operators that lacked sufficient financial data for the report. There was a drop in net income from $58420m in 2014 to $5917m in 2015 as there was a drop in profits for the financial year from discontinued operations, since the disposal of the U.S business was completed in 2015 and most of the gains of the sale of the business unit in the U.S was recognized in 2014. Based on the income of financial position, the company supports its business with high long term and short term borrowing as well. The report states that in the auditor’s opinion, Vodafone’s financial position in the period is fairly represented by the financial reports and is in accordance with the IFRS reporting standards issued by IASB. It also explains why “Ono” has been excluded from the audit of internal control, and that the auditor has also audited the adjustments to the 2014 and 2013 financial statements. The auditors have prepared Vodfone’s financial statements in accordance to accounting standards of European Union, and by putting themselves in the shoes of the organisation – the normal course of operations, concerns, risks etc.