Page 104 - Sundance Resources Ltd Annual Report 2013

102 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2013
Note 8. AUDITORS REMUNERATION
30 June 2013
$
30 June 2012
$
Remuneration of the auditor of the Company for:
- auditing or reviewing the financial report 103,950 120,750
- corporate taxation services 9,735 44,528
- taxation services related to the Project 112,909 25,405
- financial advisory related to the Project 386,288 570,448
612,883 761,131
Remuneration of auditor network firms of the company for:
- auditing or reviewing the financial report of foreign subsidiaries 136,312 123,676
749,195 884,804
Deloitte Touche Tohmatsu (‘Deloitte’) performs the audit of the Company and its subsidiaries.
During the 2011 financial year the Board of the Company adopted a policy to specify the circumstances in which it is
deemed appropriate for Management to contract the services of Deloitte for non-audit work.
This Policy provides that the Company is only to enter into a non-audit contract or transaction with the external audit
firm in the following circumstances:
a. Where any proposed transaction will not compromise the independence of the external auditors; and
b. Where it is believed that the external auditor is the best equipped to undertake the work after taking into account:
• Experience;
• Expertise, particularly in Cameroon and Congo where Deloitte have permanent representation;
• Knowledge of the group;
• Synergies of having the auditor perform the work; and
• Value for money.
Contracts for the auditors other services were, in large part, entered into prior to the specification of the above Policy.
The Board has reviewed these contracts and does not believe it would be in the best interests of the Company to
change service providers at this point in time.
Note 9. DIVIDENDS
No dividends have been paid or proposed during the year.