Aer Lingus 2014 Annual Report Download - page 48

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46
for example in the U.K., where auditors of a public company must be re-appointed annually by shareholders at the annual general meeting.
The Auditors, PricewaterhouseCoopers, are willing to continue in office. Accordingly, the Directors have not proposed a resolution to re-
appoint PricewaterhouseCoopers as such a resolution can have no effect.
PwC has served as Company’s external audit firm since 1996 and the audit was last put out to tender in 2003. A new EU regulatory
framework was introduced during 2014 requiring mandatory rotation of the external auditors of public interest entities (including listed
companies) at least every ten years. EU Member States can extend the maximum audit tenure up to twenty years, provided that a public
tender is conducted at least every ten years and this is currently under consideration by the Irish Government. We anticipate the new
requirements around tendering will apply to accounting periods commencing on or after 17 June 2016.
Transparency (Directive 2004/109/EC) Regulations 2007
As required by Statutory Instrument 277/2007 Transparency (Directive 2004/109/EC) Regulations 2007 as amended by Transparency
(Directive 2004/109/EC) (Amendment) Regulations 2012 the following sections of the Company’s Annual Report shall be treated as
forming part of this report:
The Chairman’s Introduction and Chief Executive’s Review on pages 3 to 7;
Operating, Financial and Quarterly Review on pages 8 to 28 and the Principal Risks and Uncertainties on pages 29 to 33, which include
a review of the price risk and cash flow risk, external environment, key strategic aims and performance measures;
Details of earnings per ordinary share on page 25;
Details of derivative financial instruments on Note 20 to the consolidated financial statements; and
Details of key performance indicators relating to employee matters, e.g. change in number of employees, in Note 12 to the consolidated
financial statements
Events after the reporting date
Events after the reporting date are disclosed in Note 39 to the financial statements.
Financial risk management
Details regarding financial risk management are set out at Note 5 to the consolidated financial statements.