Man Group plc - Annual Report 2007

Notes to the Group Financial Statements

 

2. Profit on ordinary activities before taxation    
The following items have been included in arriving at profit on ordinary activities of continuing operations before taxation:
  2007
$m		 Restated
2006
$m
Staff costs (Note 5) 457 402
Fair value gains on available for sale financial assets (transfer from equity) (1) (6)
Depreciation of property, plant and equipment (Note 12) 14 14
Amortisation of sales commissions (Note 13) 129 110
Amortisation of other intangible assets (Note 13) 7 6
Impairment of joint venture (Note 14) – 4
Impairment of other non-current investments (Note 15) 1 3
Operating lease rentals – land and buildings 18 15
     

Analysis of items included in profit on ordinary activities from discontinued operations is provided in Note 8.

Fees paid to the Group’s auditors, PricewaterhouseCoopers LLP and its worldwide associates, were as follows:
  2007
$’000		 2006
$’000
Fees payable to the Company’s auditors for the audit of the Company’s annual accounts 2,327 2,351
Other services:    
The audit of the Company’s subsidiaries pursuant to legislation 3,827 2,566
Other services pursuant to legislation 12,316 664
Other services relating to taxation 956 36
Services relating to corporate finance transactions 89 302
All other services 900 307
Less: auditors’ remuneration for discontinued operations (see below) (15,917) (2,080)
Total auditors’ remuneration for continuing operations 4,498 4,146
     

Included within the current year audit fees is an amount of $0.8 million which was paid in 2007 but related to the 2006 audit.

Fees payable for the audit of the Company's subsidiaries pursuant to legislation comprise the fees for the statutory audit of the subsidiaries.

Other services pursuant to legislation largely relate to work in connection with the disposal of Brokerage in 2007, in particular to the audit-related work in respect of the planned IPO registration document. It also includes services in relation to statutory and regulatory filings. These include the review of the interim financial information under the Listing Rules of the FSA and the audit of Financial Services Authority regulatory returns.

Taxation services include compliance services such as tax return preparation and advisory services such as tax advice relating to transactions.
Other services include work in connection with the adoption of the Capital Requirements Directive (CRD) in 2007 and the IFRS conversion in 2006.

  2007
$m		 2006
$m
Discontinued operations:    
Fees payable to the Company's auditors for the audit of the Company's annual accounts 1,159 548
The audit of the Company’s subsidiaries pursuant to legislation 1,809 932
Other services pursuant to legislation 11,929 258
Other services relating to taxation 886 22
Services relating to corporate finance transactions 89 275
All other services 45 45
Total auditors’ remuneration for discontinued operations 15,917 2,080
     

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