Regulatory Accounts

Regulatory Financial Statements

Under the terms of condition 22 of its network licence, Network Rail Infrastructure Limited (NRIL) has to provide annual financial performance information to the Office of Rail Regulation (ORR). The information is designed to be relevant to ORR and other persons for the assessment of access charges and to allow the financial performance of NRIL to be monitored against the determination assumptions. This information must be set out in annual financial statements in accordance with regulatory accounting guidelines issued by ORR. The financial statements include an independent auditors report and are accompanied by a statement from the directors of NRIL certifying that the company has adequate resources to carry out its functions.

Statement from Independent Auditor

An audit does not provide assurance on the maintenance and integrity of the website, including controls used to achieve this, and in particular on whether any changes may have occurred to the regulatory financial statements since first published. These matters are the responsibility of the directors of Network Rail Infrastructure Limited/the ORR but no control procedures can provide absolute assurance in this area. Legislation in the United Kingdom governing the preparation and dissemination of regulatory financial statements differs from legislation in other jurisdictions.