Annual Report & Accounts 2009 - Anglo Irish Bank

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Notes to the financial statements continued 11. Retirement benefits continued 72 Reconciliation of defined benefit obligations during the period 31 December 30 September 2009 2008 €m €m Defined benefit obligation at beginning of period 102 97 Current service cost 2 3 Past service cost - 2 Interest cost 8 5 Benefit payments (15) (2) Settlement loss 2 - Actuarial gain during period (8) (3) Defined benefit obligation at end of period 91 102 History of experience gains and losses in funded and unfunded schemes 31 December 30 September 30 September 30 September 2009 2008 2007 2006 €m €m €m €m Difference between actual and expected return on assets: Amount (6) (25) (1) 3 Percentage of schemes' assets at period end 6% 23% 1% 3% Experience gains/(losses) on liabilities: Amount 4 2 (4) (1) Percentage of schemes' liabilities at period end 4% 2% 4% 1% Total gross amount recognised in statement of comprehensive income Defined benefit pension schemes 2 (21) 14 6 31 December 30 September 30 September 30 September 2009 2008 2007 2006 €m €m €m €m Scheme assets 98 108 123 118 Funded defined benefit obligation (91) (102) (97) (105) Surplus within funded schemes 7 6 26 13
12. Auditors' remuneration (including irrecoverable VAT) On 1 September 2009 Ernst & Young resigned as auditors of the Group, and on 21 September 2009 Deloitte & Touche were appointed. Current auditors: 15 months ended 31 December 2009 €m Statutory audit 1.0 Audit related services 0.2 Other services 1.0 2.2 Other fees for Deloitte & Touche relate primarily to advisory work in respect of the restructuring of the Bank, and include all fees earned since 1 October 2008. Of this amount, €0.3m was earned prior to their appointment as auditors on 21 September 2009. 15 months Year ended ended 31 December 30 September 2009 2008 €m €m Former auditors: Statutory audit 1.4 1.3 Audit related services 0.2 0.5 Other services 0.3 0.4 1.9 2.2 Statutory audit fees charged by Ernst & Young during the current period include fees for additional work performed in respect of the 2008 audit and fees in respect of their review of the Bank's 2009 Interim Report. The Audit Committee has reviewed the level of fees and is satisfied that it has not affected the independence of the auditors. Audit related and other services fees are primarily in respect of tax compliance and advice and letters of comfort. Auditors' remuneration is included within administrative expenses. Anglo Irish Bank Annual Report & Accounts 2009 73
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Annual Report & Accounts 2009
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Contents Page Chairman’s statemen
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Legacy matters The Bank is continui
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Jim Brydie was appointed Head of Gr
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Business review This business revie
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Divisional lending balances by sect
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holdings, reduced investment cash f
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30 September 2008. Average total cu
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Income statement - treasury impairm
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to acquire these assets they are in
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Board of Directors Donal O’Connor
Page 23 and 24: In keeping with our environmental p
Page 25 and 26: Principal risks and uncertainties T
Page 27 and 28: Credit risk Credit risk is the risk
Page 30 and 31: Report of the Directors The Directo
Page 32 and 33: Corporate governance statement On 1
Page 34 and 35: Corporate governance statement cont
Page 36 and 37: Independent Auditors' report to the
Page 38 and 39: Consolidated income statement For t
Page 40 and 41: Consolidated statement of financial
Page 42 and 43: Consolidated statement of changes i
Page 44 and 45: Statement of cash flows For the 15
Page 46 and 47: Notes to the financial statements I
Page 48 and 49: Notes to the financial statements c
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Notes to the financial statements c
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Supplementary information Consolida
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www.angloirishbank.com Anglo Irish
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Annual Report & Accounts 2009 - Anglo Irish Bank

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