We have audited the Supplementary Financial Statements – European Embedded Value Basis of Legal & General Group Plc for the year ended 31 December 2009 which comprise the Consolidated Income Statement – European Embedded Value Basis, Consolidated Statement of Comprehensive Income – European Embedded Value Basis, Consolidated Balance Sheet – European Embedded Value Basis and the relevant notes (“the supplementary financial statements”) which have been prepared in accordance with the European Embedded Value (“EEV”) basis set out in Note 1 – Basis of Preparation and which should be read in conjunction with the Group’s financial statements.
Respective responsibilities of directors and auditors
The directors are responsible for preparing the supplementary financial statements in accordance with the EEV basis set out in Note 1 – Basis of Preparation. Our responsibility, as set out in our letter of engagement agreed with you dated 27 January 2010 is to audit the supplementary 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. This report, including the opinion, has been prepared for and only for the Company’s directors as a body in accordance with our letter of engagement dated 27 January 2010 and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Scope of the audit of the supplementary financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the 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 financial statements.
Opinion on the supplementary financial statements
In our opinion, the supplementary financial statements for the year ended 31 December 2009 have been properly prepared in all material respects in accordance with the European Embedded Value Basis set out in Note 1 – Basis of Preparation.
PricewaterhouseCoopers LLP
Chartered Accountants
London
22 March 2010
Notes:
(a) The supplementary financial statements are published on the website of Legal & General Group Plc, www.legalandgeneralgroup.com. The maintenance and integrity of the Legal & General Group Plc website is the responsibility of the directors; the audit work does not involve consideration of these matters and, accordingly, we accept no responsibility for any changes that may have occurred to the supplementary financial statements since they were initially presented on the website.
(b) Legislation in the United Kingdom governing the preparation and dissemination of supplementary financial statements may differ from legislation in other jurisdictions.
