Lenovo 2013 Annual Report Download - page 59
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2012/13 Annual Report Lenovo Group Limited 57
External Auditor
Independence of External Auditor
The Group’s external auditor is PricewaterhouseCoopers (“PwC”), who is remunerated mainly for its audit services
provided to the Group. The Company has adopted a policy on engagement of the external auditor for non-audit services,
under which the external auditor is required to comply with the independence requirements under the Code of Ethics for
Professional Accountants issued by the Hong Kong Institute of Certified Public Accountants. The external auditor may
provide certain non-audit services to the Group given that these do not involve any management or decision making
functions for and on behalf of the Group; do not perform any self assessments; and do not act in an advocacy role for the
Company. The engagement of the external auditor for permitted and approved non-audit services shall be approved by the
Audit Committee if the value of such non-audit services is equal to or above US$320,000.
During the year, PwC provided audit and insignificant non-audit services to the Group.
Remuneration of External Auditor
The fees paid or payable to PwC for audit and non-audit services for the financial year ended March 31, 2013 and the
comparative figures for the financial year ended March 31, 2012 are as follows:
2013 2012
US$mn US$mn
Audit
– 2011/12 –5.5
– 2012/13 5.6 –
5.6 5.5
Non-audit 0.8 1.9
Total 6.4 7.4
REMUNERATION OF DIRECTORS AND SENIOR MANAGEMENT
A formal and transparent procedure for fixing the remuneration packages of individual directors and senior management is
in place. Details of remuneration policies and other relevant information are set out in the Compensation Committee Report
of this annual report while particulars of directors’ remuneration (including the CEO) and the five highest paid employees
are set out in note 11 to the financial statements. The remuneration of senior management as disclosed in this annual
report is as follows:
Remuneration of Senior Management
The remuneration of senior management fell within the following bands for the year ended March 31, 2013:
Remuneration bands Number of senior management
US$2,189,847 to US$2,254,253 1
US$2,898,327 to US$2,962,733 1
US$3,155,956 to US$3,220,362 1
US$3,413,585 to US$3,477,991 1
US$3,800,028 to US$3,864,435 1
US$4,122,065 to US$4,186,471 1
US$4,186,472 to US$4,250,878 1
US$4,315,287 to US$4,379,693 1