Download - AHG Limited

2012 Annual Report
For the year ended June 2012
Insurance of Directors and Officers
During the year AHG paid insurance premiums in respect of a Directors’ and Officers’ liability insurance
contract. The contract insures each person who is or has been a director or executive officer of the
Group against certain liabilities arising in the course of their duties to the Group. The directors have not
disclosed details of the nature of the liabilities covered or the amount of the premium paid in respect of
the insurance contract as such disclosure is prohibited under the terms of the contract.
The directors and past directors of the Company are party to an Access, Indemnity and Insurance Deed,
dated 2005, which provides, amongst other things:
• Access to Board papers whilst the director is a director of the Company and for 7 years after that
person ceases to be a director of the Company;
• Subject to certain provisions, indemnification against any liability incurred by that director in their
capacity as a director of the Company or of a subsidiary of the Company; and
• The Company obtaining a contract insuring a director against certain liabilities.
In addition, directors are entitled to seek independent legal and other professional advice where
necessary to perform their duties with the Company meeting the cost of this advice or reimbursing the
director as required.
Proceedings on Behalf of the Company
No person has applied for leave of Court to bring proceedings on behalf of the Company or intervene in
any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the
Company for all or any part of those proceedings.
The Company was not a party to any such proceedings during the year.
Non Audit Services
The Group has employed the auditor on assignments additional to their statutory audit duties where the
auditor’s expertise and experience with the Group are important.
Details of the amounts paid or payable to the auditor (BDO Audit (WA) Pty Ltd) and affiliated offices for
non-audit services provided during the year are set out below.
The Board of Directors has considered the position and, in accordance with advice received from the Audit
& Risk Management Committee, is satisfied that the provision of the non-audit services is compatible with
the general standard of independence for auditors imposed by the Corporations Act 2001. The directors
are satisfied that the provision of non-audit services by the auditor, as set out below, did not compromise
the auditor independence requirements of the Corporations Act 2001 for the following reasons:
• all non-audit services have been reviewed by the Audit & Risk Management Committee to ensure they
do not impact the impartiality and objectivity of the auditor; and
• none of the services undermine the general principles relating to auditor independence as set out in
APES 110 Code of Ethics for Professional Accountants.
The following fees for non-audit services were paid / payable to the external auditors during the year
ended 30 June 2012:
Consolidated
Advisory Services
Fees paid or payable to BDO Audit (WA) Pty Ltd
Advice and provision of support services for AHG’s internal Audit function 2,170 16,304
Fees paid or payable to affiliated offices of BDO Audit (WA) Pty Ltd
Provision of Training to AHG management in respect of Executive
Management Leadership - 4,500
Provision of accounting assistance to New Zealand entities - 17,892
Taxation Services
Fees paid or payable to BDO Tax (WA) Pty Ltd 445,888 442,827
Fees paid or payable to affiliated offices of BDO Tax (WA) Pty Ltd 53,690 7,580
Total of Non-Audit Services provided to the Group 501,748 489,103
2012
$
2011
$
Automotive Holdings Group 59