Advisors

Our auditors

Our auditors are Ernst & Young LLP. They have been our auditors since our initial listing. They provide our Audit Committee with reports, information and advice throughout the year. They are also required to review whether or not we comply with the provisions of the UK Corporate Governance Code.

The Audit Committee meets with the auditors without management present to discuss any significant issues, not least the conduct of the audit. In addition, the Committee Chairman has regular contact with the lead audit partner outside of formal Committee meetings.

Audit tender

The UK Competition and Markets Authority’s (CMA) Statutory Audit Services Order (Order) states, amongst other matters, that FTSE 350 listed companies should put their external audit contract out to public tender at least every 10 years.

Following completion of the public tender in 2016, the Audit Committee recommended the re-appointment of Ernst & Young LLP as the Company’s Statutory Auditor. The next mandatory audit tender will be required by 2024.

Non-audit services

The Company has a non-audit services policy that sets out the circumstances in which we may appoint our external auditors to undertake additional non-audit work.

The Non-audit services policy provides clear definitions of services that our external auditors may and may not provide.

The relevant points from the 2018 Audit report include:

  • The Committee is satisfied that EY’s objectivity and independence was not impaired during the year by any non-audit work undertaken by them and confirms there were no breaches to the policy during 2018.
  • The non-audit spend for the year, as a percentage of the overall audit fee, was 20.2% (2017: 32.4%), with the majority of costs relating to audit related assurance services, including the Group interim review and other non-audit services, such as two specific corporate projects and agreed upon procedures for operational projects.

The external auditors are automatically prohibited from carrying out work which might impair their objectivity.

Read more about how we work with our external auditors

Other advisors

Service Company

Legal Advisor to the Company as to English Law:

Linklaters LLP

1 Silk Street

London EC2Y 8HQ

Registrar

Link Market Services (Jersey) Limited
12 Castle Street
St Helier
Jersey JE2 3RT

 

Executive Remuneration Consultancy

Deloitte LLP
2 New Square Street
London EC4A 3BZ

 

Brokers

Goldman Sachs
Peterborough Court
113 Fleet Street
London EC4A 2BB

JP Morgan Cazenove
10 Aldermanbury
London EC2V 7RF

Corporate and Financial PR

Tulchan Communications LLP
85 Fleet Street
London EC4Y 1AE