Unilever 2006 Annual Report Download - page 48

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Unilever Annual Report and Accounts 2006 45
Report of the Directors (continued)
Corporate governance (continued)
We have complied with the requirements concerning corporate
governance that were in force during 2006. Attention is drawn
in particular to the remit of the Audit Committee on page 37
and the Report of the Audit Committee on page 63.
Actions already taken to ensure compliance that are not
specifically disclosed elsewhere or otherwise clear from reading
this document include:
•the issuance of a Code of Ethics for senior financial officers;
• the issuance of instructions restricting the employment of
former employees of the audit firm; and
• the establishment of a policy on reporting requirements under
the US Securities and Exchange Commission (SEC) relating to
the standards of professional conduct for US attorneys.
In each of these cases, existing practices were revised and/or
documented in such a way as to conform to the new
requirements.
The Code of Ethics applies to the senior executive, financial and
accounting officers and comprises the standards prescribed by the
SEC, and a copy has been posted on our website at
www.unilever.com/investorcentre/corpgovernance.
The Code of Ethics comprises an extract of the relevant provisions
of Unilever’s Code of Business Principles and the more detailed
rules of conduct that implement it. The only amendment to these
pre-existing provisions and rules that was made in preparing the
Code of Ethics was made at the request of the Audit Committee
and consisted of a strengthening of the explicit requirement to
keep proper accounting records. No waiver from any provision
of the Code of Ethics was granted to any of the persons falling
within the scope of the SEC requirement in 2006.
We are required by US securities laws and the Listing Standards
of the New York Stock Exchange to have an Audit Committee
that satisfies Rule 10A-3 under the Exchange Act and the Listing
Standards of the New York Stock Exchange (NYSE). We are fully
compliant with these requirements. We are also required to
disclose any significant ways in which our corporate governance
practices differ from those typically followed by US companies
listed on the NYSE. In addition to the information we have
given you in this document about our corporate governance
arrangements, further details are provided in
‘The Governance of Unilever’, which is on our website at
www.unilever.com/investorcentre/corpgovernance.
We are fully compliant with the Listing Standards of the
New York Stock Exchange applicable to foreign private issuers.
Our corporate governance practices do not significantly differ
from those followed by US companies listed on the New York
Stock Exchange.
Wewould also confirm that it is our practice, in accordance with
our home country laws and practices, to give our shareholders the
opportunity to vote on equity compensation plans.