So as to comply with the requirements of provision C.3.2 of The UK Corporate Governance Code (2014), and to ensure that the provision of services does not impair the external auditor's independence or objectivity the Audit Committee has adopted the following policy:-

  1. The following non-audit services may not be provided by the Group's external auditor except where required by law:
    • Tax services
    • Bookkeeping and other services relating to accounting records and corporate financial statements;
    • Payroll services
    • Designing and implementing internal control or risk management procedures related to the preparation and or control of financial information or designing and implementing financial information technology systems
    • Executive management of company operations and activities, including acting temporarily or permanently as a director, officer or employee of the Group;
    • Valuation services
    • Services relating to internal audit function
    • Legal services
    • Services linked to financing capital structure and allocation and investment strategy but excluding assurance services associated with financial statements.
    • Share brokerage
    • Human Resources services
  2. Fees paid to the statutory auditor to provide any permitted non-audit services must not exceed 70% of the average of the statutory audit fees for the preceding three year period calculated in accordance with the regulatory guidelines.
  3. All non-audit services to be provided by the statutory auditor together with the fee must be approved by the Audit Committee or where any advice and appointment is required between formal meetings by Chair of the Audit Committee and reported at the next meeting.