Annual report 2006 - Dexia.com

CORPORATE GOVERNANCE
MANAGEMENT REPORT
COMPTES CONSOLIDÉS
COMPTES SOCIAUX
EXTERNAL CONTROL
Board of Statutory Auditors
In accordance with Article 14 of the company’s articles of
association of Dexia SA, the audit of the company’s financial
situation and annual financial statements is entrusted to one
or more auditors who are appointed by the Ordinary Shareholders’
Meeting for a maximum of three years on the recommendation
of the Board of Directors.
Since 2000, a college of Statutory Auditors comprised of two
audit firms has audited Dexia:
• PricewaterhouseCoopers SCCRL, an audit firm, represented
by Robert Peirce, a certified public accountant. This firm
was re-appointed by the Ordinary Shareholders’ Meeting of
May 11, 2005 for a period of 3 years ending after the Ordinary
Shareholders’ Meeting in May 2008;
• Mazars & Guérard SCCRL, an audit firm, represented by
Xavier Doyen, a certified public accountant. The mandate
of Mazars & Guérard was renewed by the Ordinary Shareholders’
Meeting of May 10, 2006, for a period of 3 years ending
after the Ordinary Shareholders’ Meeting in May 2009.
Independence of the auditors
The 8th Directive 2006/43/EEC of the European Parliament
and the Council of May 17, 2006 concerning legal audits of
annual and consolidated financial statements entered into
effect on June 29, 2006. This directive was transposed into
Belgian law in the Law of July 20, 2006.
In order to comply with the new legislative framework resulting
from the transposition of this directive, Dexia has adapted
its internal procedures to ensure the independence of the
auditors. A new policy in this area was adopted by the Executive
Committee of the Dexia Group on December 19, 2006,
effective immediately.
Compensation of the Board of Auditors
This table gives a summary of the compensation paid to the
members of the Dexia SA Board of Auditors for their services
in 2006.
PRICEWATERHOUSECOOPERS Services Services provided
provided
for the Dexia Group
for Dexia
(consolidated
(in EUR) amounts)
a) Account audit tasks 100,000 7,413,702
b) Certification tasks 798 486,869
c) Tax advice 46,363 675,750
d) Due diligence 0 94,800
e) Other (non-certification) tasks 268,497 801,300
e-1) entrusted by the Law to Auditors 0 16,243
e-2) not entrusted by Law to Auditors 268,497 785,057
- Accounting advice (ex-IFRS) 0 84,003
- Legal advice 0 0
- Assistance: IFRS implementation 0 1,269
- Assistance: Basel II implementation 0 0
- Assistance: other tasks 235,535 644,970
- Other (non-assistance) 32,962 54,815
TOTAL 415,658 9,472,422
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Dexia / Annual Report 2006