Holiday Inn 2012 Annual Report Download - page 102

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100 IHG Annual Report and Financial Statements 2012
3. Staff costs and Directors’ emoluments
2012 2011
$m $m
Staff
Costs:
Wages and salaries 547 550
Social security costs 44 43
Pension and other post-retirement benefits:
Defined benefit plans* (note 25) 4 8
Defined contribution plans 22 22
617 623
* Before exceptional items.
2012 2011
Average number of employees, including part-time employees:
Americas 2,552 2,895
Europe 1,866 1,574
Asia, Middle East and Africa 1,195 1,195
Greater China 1,051 1,000
Central 1,317 1,292
7,981 7,956
The costs of the above employees are borne by IHG. In addition, the Group employs 5,018 (2011 4,462) people who work in managed hotels
or directly on behalf of the System Fund and whose costs of $353m (2011 $307m) are borne by those hotels or by the Fund.
2012 2011
$m $m
Directors’ emoluments
Base salaries, fees, performance payments and benefits 9.7 8.3
More detailed information on the emoluments, pensions, option holdings and shareholdings for each Director is shown in the Directors’
Remuneration Report on pages 59 to 78.
4. Auditor’s remuneration paid to Ernst & Young LLP
2012 2011
$m $m
Group audit fees 2.8 1.9
Audit fees in respect of subsidiaries 1.5 1.5
Tax fees 0.5 0.7
Interim review fees 0.3 0.3
Other services pursuant to legislation 0.2 0.4
Other 1.9 1.4
7.2 6.2
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.
Notes to the Group Financial Statements continued