Non-audit services
During the year, KPMG, the company auditor, has performed certain other services in addition to its statutory duties. In 2007, a total of $885,000 was paid to, or billed by, KPMG in relation to audit services to the Caltex Australia group. An amount of $121,000 was paid to, or billed by, KPMG for non-audit services, which included transaction services, other assurance services and taxation services.
The provision of these services was consistent with Caltex Australia’s Board approved policy on the provision of nonaudit services by the external auditor, and the nature of non-audit services and the amount of fees are reviewed on a regular basis by the Audit Committee.
The directors are satisfied that the provision of those non-audit services during the year by the auditor is compatible with, and did not compromise the auditor independence requirements of the Corporations Act 2001 (Cth), for the following reasons:
The directors’ statements in relation to the independence of the auditor are made in accordance with written advice provided by the Audit Committee and signed by the Chairman of the Audit Committee pursuant to a resolution of that Committee.
During the year, KPMG, the company auditor, has performed certain other services in addition to its statutory duties. In 2007, a total of $885,000 was paid to, or billed by, KPMG in relation to audit services to the Caltex Australia group. An amount of $121,000 was paid to, or billed by, KPMG for non-audit services, which included transaction services, other assurance services and taxation services.
The provision of these services was consistent with Caltex Australia’s Board approved policy on the provision of nonaudit services by the external auditor, and the nature of non-audit services and the amount of fees are reviewed on a regular basis by the Audit Committee.
The directors are satisfied that the provision of those non-audit services during the year by the auditor is compatible with, and did not compromise the auditor independence requirements of the Corporations Act 2001 (Cth), for the following reasons:
- services provided during the year are not considered to be materially in conflict with the role of the auditor;
- the ratio of audit fees to non-audit service fees is 7:1; and
- after enquiring, the directors are unaware of any matter relating to the provision of non-audit services which would impair the impartial and objective judgement of the external auditor.
The directors’ statements in relation to the independence of the auditor are made in accordance with written advice provided by the Audit Committee and signed by the Chairman of the Audit Committee pursuant to a resolution of that Committee.