Annual report 20108.31 MB - Boskalis

Financial statements 20109. Auditor's remunerationWith reference to Section 382A, Part 9 of Book 2 of the Netherlands Civil Code, KPMG Accountants N.V. hascharged the following fees to the Company, its subsidiaries and other consolidated entities:2010 2009Audit of the financial statements 980 530Other audits 132 801,112 610Total audit fees, including fees for auditors other than KPMG Accountants N.V., related to the audit of thefinancial statements including SMIT amount to € 1.4 million (2009: € 0.9 million).10. Commitments and contingent liabilitiesRoyal Boskalis Westminster N.V. heads a fiscal entity which includes her Dutch 100% Group company BoskalisWestminster Dredging B.V. The company is therefore liable for the tax obligations of the fiscal entity as a whole.The Company has arrangements with third parties, amongst which banks and pension funds. Thesearrangements are on behalf of her Group companies. Because the risks and rewards are with these Groupcompanies, the costs are charged to these companies and the liabilities are recognized by these companies. TheCompany is jointly and severally liable for the fulfillment of the liabilities under aforementioned arrangements.The company has issued guarantees on behalf of project-driven construction consortiums, and Groupcompanies’ own contracts. These amounted to € 1 million as at December 31, 2010 (2009: € 1 million). Inaddition, certain recourse obligations exist in respect of project financiers. Where deemed necessary, provisionshave been made.Some legal proceedings and investigations have been instituted against entities of Royal Boskalis WestminsterN.V. Where deemed necessary, provisions have been made.Papendrecht / Sliedrecht, March 16, 2011Supervisory BoardH. Heemskerk, chairmanH.J. HazewinkelM.P. KramerM. NiggebruggeM. van der VormC. van WoudenbergBoard of Managementdr. P.A.M. Berdowski, chairmanT.L. BaartmansJ.H. KampsRoyal Boskalis Westminster nv129