Aviva 2013 Annual Report Download - page 154

Aviva plc
Annual report and accounts 2013
152
Notes to the consolidated financial statements continued
13 – Auditors’ remuneration
This note shows the total remuneration payable by the Group, excluding VAT and any overseas equivalent thereof, to our principal
auditors, PricewaterhouseCoopers LLP.
Continuin
g
operations
2013
£m
2012
£m
Fees payable to PwC LLP and its associates for the statutory audit of the Aviva Group and Company financial statements 2.4 2.2
Fees payable to PwC LLP and its associates for other services
Audit of Group subsidiaries 10.1 9.6
Additional fees related to the prior year audit of group subsidiaries 0.7 —
Total audit fees 13.2 11.8
Audit related assurance 2.2 2.3
Other assurance services 6.1 7.2
Total audit and assurance fees 21.5 21.3
Tax compliance services 0.1 0.4
Tax advisory services 0.1 0.1
Services relating to corporate finance transactions 0.1 0.3
Other non audit services not covered above 1.1 7.7
Fees payable to PwC LLP and its associates for services to Group companies classified as continuing operations 22.9 29.8
Discontinued operations
Fees payable to PwC LLP and its associates for audit of Group subsidiaries 1.2 1.7
Fees payable to PwC LLP and its associates for other non-audit services to Group subsidiaries 0.1 0.3
Total fees payable to PwC LLP and its associates for services to Group companies 24.2 31.8
The tables above reflect the disclosure requirements of SI2011/2198 – The Companies (Disclosure of Auditor Remuneration and
Liability Limitation Agreements) (Amendment) Regulations 2011.
In addition to the fees shown above, during 2013 the Group paid PwC £0.2 million (2012: £0.2 million) in relation to the audit
of Group occupational pension schemes.
Fees payable for the audit of the Group’s subsidiaries include fees for the statutory audit of the subsidiaries, both inside and
outside the UK, and for the work performed by the principal auditors in respect of the subsidiaries for the purpose of the
consolidated financial statements of the Group.
Audit related assurance comprises services in relation to statutory and regulatory filings. These include audit services for the
audit of regulatory returns in the UK and review of interim financial information under the Listing Rules of the UK Listing Authority.
Fees for other assurance services comprise non statutory assurance work which is customarily performed by the external
auditor, including the audit of the Group’s MCEV reporting. Although embedded value is a primary management reporting basis
and our disclosures require a full audit, the relevant fees are not classified as being for statutory audit.
Other assurance services in 2013 includes fees relating to the audit of the Group’s MCEV reporting of £1.1 million, £2.4 million
for examination of the Group Individual Capital Assessment and Economic Capital, and £1.5 million associated with assurance
services to prepare the businesses for Solvency II implementation.
The 2013 fees for other non audit services for continuing operations of £1.1 million includes £0.2 million relating to a
regulatory advice engagement and £0.9 million for a number of other, individually smaller services.
Details of the Group’s process for safeguarding and supporting the independence and objectivity of the external auditors are
given in the Audit Committee report.
14 – Tax
This note analyses the tax charge for the year and explains the factors that affect it.
(a) Tax charged/(credited) to the income statement
(i) The total tax charge comprises:
2013
£m
Restated1
2012
£m
Current tax
For this year 517 531
Prior year adjustments 13 (47)
Total current tax from continuing operations 530 484
Deferred tax
Origination and reversal of temporary differences 63 (33)
Changes in tax rates or tax laws (13) (12)
Write-down of deferred tax assets 14 43
Total deferred tax from continuing operations 64 (2)
Total tax charged to income statement from continuing operations 594 482
Total tax charged to income statement from discontinued operations 265 152
Total tax charged to income statement 859 634
1 Restated for the adoption of revised IAS19. See note 1 for further details.
(ii) The Group, as a proxy for policyholders in the UK, Ireland and Singapore, is required to record taxes on investment income and
gains each year. Accordingly, the tax benefit or expense attributable to UK, Irish and Singapore life insurance policyholder returns is
included in the tax charge. The tax charge attributable to policyholders’ returns included in the charge above is £191 million (2012:
£221 million).