Holiday Inn 2007 Annual Report Download - page 64

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62 IHG Annual Report and Financial Statements 2007
Notes to the Group financial statements continued
3 STAFF COSTS AND DIRECTORS’ EMOLUMENTS
2007 2006
£m £m
Staff
Costs:
Wages and salaries 292 301
Social security costs 31 38
Pension and other post-retirement benefits:
Defined benefit plans (note 24) 46
Defined contribution plans 12 11
339 356
2007 2006
Average number of employees, including part-time employees:
Americas 3,761 3,771
EMEA 2,739 4,437
Asia Pacific 2,716 2,225
Central 1,150 1,023
10,366 11,456
2007 2006
£m £m
Directors’ emoluments
Base salaries, fees, performance payments and benefits 4.4 4.5
Gains on exercise of share options –6.7
More detailed information on the emoluments, pensions, option holdings and shareholdings for each Director is shown in the
Remuneration Report on pages 36 to 44.
4 AUDITOR’S REMUNERATION PAID TO ERNST & YOUNG LLP
2007 2006
£m £m
Group audit fees 0.8 0.9
Audit fees in respect of subsidiaries 1.3 1.4
Tax fees 0.4 0.7
Fees in respect of reporting under Sarbanes Oxley Act 0.6 1.0
Interim review fees 0.2 0.2
Other services pursuant to legislation 0.1 0.1
Corporate finance fees –0.1
Other 1.2 0.8
4.6 5.2
Audit fees in respect of the pension scheme were not material.
The Audit Committee has a process to ensure that any non-audit services do not compromise the independence and objectivity of the
external auditor and that relevant UK and US professional and regulatory requirements are met. A number of criteria are applied when
deciding whether pre-approval for such services should be given. These include the nature of the service, the level of fees and the
practicality of appointing an alternative provider, having regard to the skills and experience required to supply the service effectively.
Cumulative fees for audit and non-audit services are presented to the Audit Committee on a quarterly basis for review. The Audit
Committee is responsible for monitoring adherence to the pre-approval policy.