annual report - Harvey Norman Company Reports & Announcements

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DIRECTOR‟S REPORT (CONTINUED) Indemnification of Officers During the financial year, insurance and indemnity arrangements were continued for officers of the consolidated entity. An indemnity agreement was entered into between the Company and each of the directors of the Company named earlier in this report and with each full-time executive officer, director and secretary of all group entities. Under the agreement, the Company has agreed to indemnify those officers against any claim or for any expenses or costs which may arise as a result of work performed in their respective capacities. Corporate Governance In recognising the need for the highest standards of corporate behaviour and accountability, the directors of the Company support and have adhered to the principles of corporate governance. The Company‟s Corporate Governance Statement follows the Directors‟ Report. Tax Consolidation Harvey Norman Holdings Limited and its 100% owned subsidiaries have formed a tax consolidated group. Members of the group have entered into a tax sharing arrangement in order to allocate income tax expense to the wholly owned subsidiaries on a pro-rata basis. In addition the agreement provides for the allocation of income tax liabilities between the entities should the head entity default on its tax payment obligations. Rounding of Amounts The parent entity is a company of the kind specified in the Australian Securities and Investments Commission class order 98/0100. In accordance with the class order, amounts in the financial statements and the Directors‟ Report have been rounded to the nearest thousand dollars unless specifically stated to be otherwise. Auditor Independence and Non-Audit Services During the year, the auditors of Harvey Norman Holdings Limited, Ernst & Young, provided non–audit services to Harvey Norman Group entities. In accordance with the recommendation from the Audit Committee of the Company, the directors are satisfied that the provision of the non-audit services during the year is compatible with the general standard of independence for auditors imposed by the Corporations Act. Also, in accordance with the recommendation from the Audit Committee, the directors are satisfied that the nature and scope of each type of non–audit service provided means that auditor independence was not compromised. Details of the amounts paid or payable to the auditor, Ernst & Young, for the provision of non–audit services during the year ended 30 June 2012 are as follows: Tax compliance services $245,057 (2011: $479,655); Other services $45,135 (2011: $23,491) 31
DIRECTORS‟ REPORT (CONTINUED) Auditor Independence and Non-Audit Services The directors received the following declaration from the auditor of Harvey Norman Holdings Limited. Auditor‟s Independence Declaration to the Directors of Harvey Norman Holdings Limited In relation to our audit of the financial report of Harvey Norman Holdings Limited for the financial year ended 30 June 2012, to the best of my knowledge and belief, there have been no contraventions of the auditor independence requirements of the Corporations Act 2001 or any applicable code of professional conduct. Ernst & Young Katrina Zdrilic Partner Sydney 28 September 2012 Signed in accordance with a resolution of directors. G. HARVEY K.L. PAGE Executive Chairman Executive Director / Chief Executive Officer Sydney Sydney 28 September 2012 28 September 2012 32 Liability limited by a scheme approved under Professional Standards Legislation
Page 1 and 2: 2012 ANNUAL REPORT HOLDINGS LIMITED
Page 3 and 4: 2 Contents Company Information 1 Co
Page 5 and 6: CHAIRMAN‟S REPORT Business Perfor
Page 7 and 8: CHAIRMAN‟S REPORT (CONTINUED) Our
Page 9 and 10: CHAIRMAN‟S REPORT (CONTINUED) Bre
Page 11 and 12: CHAIRMAN‟S REPORT (CONTINUED) Sal
Page 13 and 14: CHAIRMAN‟S REPORT (CONTINUED) Slo
Page 15 and 16: DIRECTOR‟S REPORT Your directors
Page 17 and 18: DIRECTOR‟S REPORT (CONTINUED) Com
Page 19 and 20: DIRECTOR‟S REPORT (CONTINUED) Div
Page 21 and 22: DIRECTOR‟S REPORT (CONTINUED) Rem
Page 29 and 30: DIRECTORS‟ REPORT (CONTINUED) Rem
Page 31: DIRECTORS‟ REPORT (CONTINUED) Rem
Page 35 and 36: CORPORATE GOVERNANCE STATEMENT (CON
Page 43 and 44: STATEMENT OF FINANCIAL POSITION AS
Page 45 and 46: STATEMENT OF COMPREHENSIVE INCOME F
Page 47 and 48: STATEMENT OF CHANGES IN EQUITY FOR
Page 49 and 50: STATEMENT OF CASH FLOWS FOR THE YEA
Page 51 and 52: OPERATING SEGMENTS (CONTINUED) Oper
Page 53 and 54: OPERATING SEGMENTS (CONTINUED) OPER
Page 55 and 56: OPERATING SEGMENTS (CONTINUED) Oper
Page 57 and 58: STATEMENT OF SIGNIFICANT ACCOUNTING
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Independent auditor’s report to t
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SHAREHOLDER INFORMATION Distributio
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DIRECTORY OF HARVEY NORMAN, DOMAYNE
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