Unilever 2005 Annual Report Download - page 74
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Unilever Annual Report and Accounts 2005 71
Report of the Directors
Report of the Audit Committee
(continued)
Services provided by external auditors
In overview, our procedures in respect of services provided by
PricewaterhouseCoopers are:
Statutory audit:
Procedures in respect of statutory audit services are detailed
on page 70. This category includes fees for the statutory audit
of Unilever’s financial statements and those of its subsidiaries.
Other audit services:
This is audit and similar work that regulations or agreements with
third parties require the auditors to undertake. These services
include procedures undertaken by our external auditors in
connection with borrowings, shareholder and other circulars and
various other regulatory reports.
Audit-related services:
This is work that, in their position as the auditors, they are best
placed to undertake. It includes internal control reviews, other
reports and work in respect of acquisitions and disposals.
Tax services:
In cases where they are best suited, we use the auditors. All other
significant tax consulting work is put to tender.
General consulting and other services:
Since early 2002, our policy has been that our external auditors
may not tender for any new general consulting work. We use our
auditors to perform a limited number of other services, including
risk management advisory work and training, where these are
compatible with their work and subject to the appropriate level of
pre-approval.
The Audit Committee’s policy regarding the pre-approval of the
above non-audit services lists in detail the particular services
which PricewaterhouseCoopers is and is not permitted to provide.
In the case of the types of work which PricewaterhouseCoopers
is allowed to perform, the policy provides that they are only
appointed to an assignment if proper consideration has been
given to other potential service providers, there must be bona fide
advantages in using PricewaterhouseCoopers, and, in addition, if
the fee is over €100 000, the engagement must be specifically
approved in advance by the Chairman of the Audit Committee.
Potential engagements for any services not already covered by this
policy must be referred to the Chairman of the Audit Committee
for specific pre-approval (to be ratified at the next meeting of the
Audit Committee) before PricewaterhouseCoopers can be
appointed.
The policy is regularly reviewed and updated in the light of
internal developments, external developments and best practice.
See note 4 on page 93 for the actual fees payable to
PricewaterhouseCoopers.