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The auditors’ remuneration for the year ended 31 March 2005 for the group was £4,396,000 (2004 – £3,790,000, 2003 – £2,943,000). The audit fees payable to the company’s auditors, PricewaterhouseCoopers LLP, for the company and UK subsidiary undertakings’ statutory accounts were £2,454,000
(2004 – £2,482,000, 2003 – £1,910,000). The audit fee of the company was £35,000 (2004 – £32,000, 2003 – £31,000). The following fees for audit and non-audit services were paid or are payable to the company’s auditors, PricewaterhouseCoopers LLP, for the years ended 31 March 2005, 31 March
2004 and 31 March 2003:
| |
|
|
2005
£000 |
|
|
2004
£000 |
|
|
2003
£000 |
|
|
|
Audit services |
|
|
|
|
|
|
|
|
|
|
Statutory audit |
|
|
4,148 |
|
|
3,767 |
|
|
2,916 |
|
Regulatory audit |
|
|
1,423 |
|
|
1,950 |
|
|
1,690 |
|
|
|
|
|
|
5,571 |
|
|
5,717 |
|
|
4,606 |
|
Further assurance services |
|
|
|
|
|
|
|
|
|
|
Corporate finance advice |
|
|
989 |
|
|
462 |
|
|
265 |
|
Other |
|
|
110 |
|
|
82 |
|
|
829 |
|
|
|
| |
|
|
1,099 |
|
|
544 |
|
|
1,094 |
|
Tax services |
|
|
2,912 |
|
|
2,656 |
|
|
2,245 |
|
| |
|
|
|
|
|
|
|
|
|
|
Other services |
|
|
|
|
|
|
|
|
|
|
Systems advice |
|
|
– |
|
|
– |
|
|
3,765 |
|
Other |
|
|
434 |
|
|
110 |
|
|
766 |
|
|
|
| |
|
|
434 |
|
|
110 |
|
|
4,531 |
|
|
|
Total |
|
|
10,016 |
|
|
9,027 |
|
|
12,476 |
|
|
|
Total fees paid or payable to PricewaterhouseCoopers LLP in the UK for non audit services in the year ended 31 March 2005 were £5,171,000 (2004 – £4,545,000, 2003 – £8,980,000).
In order to maintain the independence of the external auditors, the Board has determined policies as to what non audit services can be provided by the company’s external auditors and the approval processes related to them. Under those policies work of a consultancy nature will not be offered to the
external auditors unless there are clear efficiencies and value added benefits to the company.
BT’s regulatory obligations require it to publish audited regulatory financial statements. The fees for regulatory work principally reflect the audit fees associated with those regulatory financial statements. The fees for tax services include tax compliance and tax advisory services. The fees for systems
advice in the year ended 31 March 2003 related to advisory services provided in connection with the implementation of certain billing systems. These services, which were provided by PwC Consulting, the consulting business of PricewaterhouseCoopers that was sold to IBM in October 2002, commenced in
2002 and were completed in 2003.
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