78

  

  

McPHERSON’S LIMITED

 ANNUAL REPORT 2015

NOTE 27.   CONTRACTUAL COMMITMENTS FOR EXPENDITURE (CONTINUED)

(B) LEASE COMMITMENTS

The Group primarily leases offices, warehouses, motor vehicles and equipment under non-cancellable leases expiring within one to seven years. The 

leases have varying terms and renewal rights. On renewal, the terms are renegotiated.

2015

$’000

2014

$’000

Operating leases

Aggregate amount of non-cancellable operating leases contracted for at balance date, but not provided for in the accounts, due:
Not later than one year

6,205

6,535

Later than one year but not later than five years

17,308

18,169

Later than five years

6,888

10,774

30,401

35,478

NOTE 28.   CONTINGENT LIABILITIES

From time to time, and in the ordinary course of business, claims arise against the Group including claims relating to product and general liability.  

The Directors consider these claims to be minor which will not materially affect the results of the Group.

NOTE 29.   REMUNERATION OF AUDITORS

2015

$

2014

$

During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its 
related practices and non-related audit firms:

(A) PRICEWATERHOUSECOOPERS AUSTRALIA

Audit and other assurance services

Audit and review of financial statements 

349,500

297,000

Other assurance services 

Earnout statement audit

15,000

-

Review of rent certificates

-

6,000

Total remuneration for audit and other assurance services

364,500

303,000

Other services

Tax advice relating to employee performance rights plan

1,500

9,500

Consulting services associated with due diligence review

60,000

39,660

Dispute support services

205,000

-

Total remuneration for other services

266,500

49,160

Total remuneration of PricewaterhouseCoopers Australia

631,000

352,160

(B) NETWORK FIRMS OF PRICEWATERHOUSECOOPERS AUSTRALIA

Audit and other assurance services

Audit and review of financial statements 

5,300

44,200

Other assurance services 

Financial statement preparation

-

3,000

Total remuneration for audit and other assurance services

5,300

47,200

Total remuneration of network firms of PricewaterhouseCoopers Australia

636,300

399,360

(C) NON PRICEWATERHOUSECOOPERS AUDIT FIRMS

Audit and other assurance services

Audit and review of financial statements 

29,368

27,702

Total remuneration of non-PricewaterhouseCoopers audit firms

29,368

27,702

Total auditor’s remuneration

665,668

427,062

NOTES TO AND FORMING PART OF THE  

CONSOLIDATED FINANCIAL STATEMENTS CONTINUED