Anglo American Annual Report 2012

GOVERNANCE STATEMENT OF DIRECTORS’ RESPONSIBILITIESSTATEMENT OF DIRECTORS’RESPONSIBILITIESThe directors are responsible forpreparing the Annual Report and thefinancial statements in accordancewith applicable law and regulations.Company law requires the directorsto prepare financial statements foreach financial year. The directors arerequired to prepare the Group financialstatements in accordance withInternational Financial ReportingStandards (IFRS), as adopted by theEuropean Union and Article 4 of theIAS regulation, and have elected toprepare the parent company financialstatements in accordance with UnitedKingdom Generally AcceptedAccounting Practice (United KingdomAccounting Standards and applicablelaw). The directors must not approvethe accounts unless they are satisfiedthat they give a true and fair view of thestate of affairs of the Company and ofthe profit or loss of the Company forthat period.In preparing the parent companyfinancial statements, the directorsare required to:• Select suitable accounting policiesand then apply them consistently• Make judgements and accountingestimates that are reasonableand prudent• State whether applicable UKAccounting Standards have beenfollowed, subject to any materialdepartures disclosed and explainedin the financial statements• Prepare the financial statementson the going concern basis unlessit is inappropriate to presumethat the Company will continuein business.In preparing the Group financialstatements, International AccountingStandard 1 requires that directors:• Properly select and applyaccounting policies• Present information, includingaccounting policies, in a mannerthat provides relevant, reliable,comparable and understandableinformation• Provide additional disclosureswhen compliance with the specificrequirements in IFRS is insufficientto enable users to understand theimpact of particular transactions,other events and conditions onthe entity’s financial position andfinancial performance• Make an assessment of theCompany’s ability to continueas a going concern.The directors are responsible forkeeping adequate accounting recordsthat are sufficient to show and explainthe Company’s transactions, disclosewith reasonable accuracy at any timethe financial position of the Companyand enable them to ensure that thefinancial statements comply with theCompanies Act 2006. They are alsoresponsible for safeguarding theassets of the Company and hencefor taking reasonable steps for theprevention and detection of fraudand other irregularities.The directors are responsible forthe maintenance and integrity of thecorporate and financial informationincluded on the Company’s website.Legislation in the United Kingdomgoverning the preparation anddissemination of financialstatements may differ fromlegislation in other jurisdictions.134 Anglo American plc Annual Report 2012