Ryanair 2016 Annual Report Download - page 141

141
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There has been no change in the Company’s internal control over financial reporting during the 2016 fiscal year
that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial
reporting.
Item 16. Reserved
Item 16A. Audit Committee Financial Expert
The Company’s Board of Directors has determined that Declan McKeon qualifies as an “audit committee
financial expert” within the meaning of this Item 16A. Mr. McKeon is “independent” for purposes of the listing rules of
NASDAQ.
Item 16B. Code of Ethics
The Company has adopted a broad Code of Business Conduct and Ethics that meets the requirements for a “code
of ethics” as defined in Item 16B of Form 20-F. The Code of Business Conduct and Ethics applies to the Company’s chief
executive officer, chief financial officer, chief accounting officer, controller and persons performing similar functions, as
well as to all of the Company’s other officers, directors and employees. The Code of Business Conduct and Ethics is
available on Ryanair’s website at http://www.ryanair.com. (Information appearing on the website is not incorporated by
reference into this annual report.) The Company has not made any amendment to, or granted any waiver from, the
provisions of this Code of Business Conduct and Ethics that apply to its chief executive officer, chief financial officer,
chief accounting officer, controller or persons performing similar functions during its most recently completed fiscal year.
Item 16C. Principal Accountant Fees and Services
Audit and Non-Audit Fees
The following table sets forth the fees billed or billable to the Company by its independent auditors, KPMG,
during the fiscal years ended March 31, 2016, 2015 and 2014:
Year Ended March 31,
2016
2015
2014
(millions)
Audit fees
€
0.4
€
0.5
€
0.5
Tax fees
€
0.3
€
0.3
€
0.3
Total fees
€
0.7
€
0.8
€
0.8
Audit fees in the above table are the aggregate fees billed or billable by KPMG in connection with the audit of
the Company’s annual financial statements, as well as work that generally only the independent auditor can reasonably be
expected to provide, including the provision of comfort letters, statutory audits, discussions surrounding the proper
application of financial accounting and reporting standards and services provided in connection with certain regulatory
requirements including those under the Sarbanes-Oxley Act of 2002.
Tax fees include fees for all services, except those services specifically related to the audit of financial statements,
performed by the independent auditor’s tax personnel, work performed in support of other tax-related regulatory
requirements and tax compliance reporting.
Audit Committee Pre-Approval Policies and Procedures
The audit committee expressly pre-approves every engagement of Ryanair’s independent auditors for all audit
and non-audit services provided to the Company.