Experian 2016 Annual Report Download - page 83
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Provision of non-audit services
Background
During the year, the Audit Committee
reviewed and approved an update to
the Group’s policy on the provision of
non-audit services, which has effect
from 1 April 2016. The updated policy
represents a significant enhancement
to the existing policy and recognises
the importance of the independence
and objectivity of the external auditor.
Policy
The external auditor may provide
services, provided that decisions to
award work are taken on the basis of
demonstrable competence and cost
effectiveness. However, the external
auditor is specifically prohibited from
the following areas of work:
• Tax services.
• Services that involve playing
any part in management or
decision making.
• Work relating to accounting
records and financial statements.
• Payroll services.
• Designing and implementing
internal control and risk
management procedures and
designing and implementing
financial systems.
• Valuation services.
• Legal services (general counsel,
negotiations and advocacy).
• Internal audit services.
• Services linked to financing, capital
structure and investment strategy
(unless audit-related assurance
in nature).
• Promoting, dealing in, or
underwriting shares in the
audited entity.
• Human resources services for
hiring or reference checking
key management and finance
resource, organisational design
and cost control.
Immaterial services of some of the
above may be acceptable, if written
approval is obtained in advance from
the Chairman of the Audit Committee.
The appointment of the external
auditor for any non-audit work must
be approved by the Group Financial
Controller, the Chief Financial Officer,
the Chairman of the Audit Committee
or the Audit Committee, depending
on the level of proposed expenditure.
Expenditure is expected to be subject
to a tender process and there is a
notification process in place if this
is not the case. The Committee will
continue to receive half-yearly reports
providing details of assignments and
related fees carried out by the external
auditor, in addition to its normal work,
and the policy will be reviewed annually
in March to coincide with the approval
of the following year’s audit fee.
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