National Grid 2008 Annual Report Download - page 23

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62758
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 17
10/9017.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/017/9*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62758
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 17
10/9017.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/017/9*
Table of Contents
PricewaterhouseCoopers LLP, independent registered public accounting firm, served as auditors of the
Company for the fiscal year ended 31 March 2008.
Subject to the Company’s Articles of Association and the UK Companies Act , the Audit Committee is solely
and directly responsible for the approval of the appointment, re-appointment, compensation and oversight of the
Company’s independent auditors. It is our policy that the Audit Committee must approve in advance all non-audit
work to be performed by the independent auditors.
During fiscal 2007/08, all of the above services were pre-approved by the Audit Committee.
Not applicable.
14
Item 16C.
P
rincipal Accountant Fees and Services
Year Ended Year Ended
March 31, March 31,
2008 2007
(£m)
Audit fees 8.3 6.2
Audit related fees 0.4 1.8
Tax fees 1.2 1.3
All other fees 0.7 1.1
Total
£
10.6
£
10.4
1
The aggregate fees billed by PricewaterhouseCoopers LLP for the audit of the Company’s financial statements and
regulatory reporting for the fiscal year ended 31 March 2008 and the review of interim financial statements for the
six months ended 30 September 2007 were £8.3 million. Fees billed by PricewaterhouseCoopers LLP for the audit
of the Company’s financial statements and regulatory reporting for the fiscal year ended 31 March 2007 and the
review of interim financial statements for the six months ended 30 September 2006, were
£
6.2 million.
2
The aggregate fees billed by PricewaterhouseCoopers LLP for assurance and related services that were reasonably
related to the performance of the audit or review of the Company’s financial statements and are not disclosed
under “Audit Fees” above were £0.4 million in fiscal 2007/08 and £1.8 million in fiscal 2006/07. Included within
the fees in fiscal 2007/08 are services principally related to comfort letters and SAS 70 control reports.
3
Aggregate fees billed by PricewaterhouseCoopers LLP for tax compliance, tax advice and tax planning were
£
1.2 million in fiscal 2007/08 and
£
1.3 million in fiscal 2006/07.
4
Aggregate fees billed by PricewaterhouseCoopers LLP for all other services in fiscal 2007/08 were £0.7 million.
The most significant item was providing vendor due diligence services related to the proposed sale of National
Grid’s property business. Aggregate fees billed by PricewaterhouseCoopers LLP for all other services in fiscal
2006/07 were
£
1.1 million.
Item 16D.
E
xem
p
tions
f
rom the Listin
g
Standards
f
or Audit Committees