Brian Singleton-Green and Christina Buckingham
The accounts examined in this year's Accountancy FTSE 100 survey cover the start of the slowdown in the global and UK economies. But you'd never guess that from the numbers. They show a significant number of FDs now receiving over £1m a year, the median pay for an FD rising to over £450,000 and the Big Five auditors making over £840m from their FTSE 100 clients - up 22% on the year before.
The directors' cutThe highest paid director in the survey - or ever, for that matter - is Vodafone AirTouch's Ken Hydon, who received £3.036m. In all, six FDs received over £1m, compared with three in last year's survey. David Kappler of Cadbury Schweppes, the first FD to pass the £1m mark, does so for the third successive year.
Forty-two FDs received over £500,000 (as opposed to 28 last year) and the median remuneration rose from more than £400,000 to more than £450,000, an increase of over 12%. This partly reflects the changing composition of the FTSE 100, a point we return to later.
As last year, the survey shows that the typical FD stays in the post for about eight years, has been internally promoted and probably spends about 16 years with the company altogether.
Forty-nine of the FDs in the survey (v 52 last year) have already been in post for four years or more and 38 (v 39) of them for more than five years. Fifty-one of them (v 50 last year) have already been with the company for eight years or more, 39 (v 36) for 10 years or more, and 10 (v 14) for 20 years or more.
The ICAEW has strengthened its hold on the top jobs. Fifty-seven of the FDs in the survey can be identified as ICAEW members (v 53 last time), 14 as CIMA members, six as Scottish CAs, four as ACCA members, and three as South African CAs.
The number of female FDs in the survey is growing at a rate of 100% a year - they went up from one to two, Kingfisher's Helen Weir joining the long-established Kathleen O'Donovan of Invensys (formerly BTR).
We must consultAlthough you might get the impression from reports in the press that audit firms are separating from their consultancies, our survey shows little evidence of this as yet. The audit now provides only 25% of auditors' total fee income from their clients (v 27% last year).
Total fee income from the companies in the survey rose an extraordinary 22% to £843m, which combines a 7% rise in audit fees to £215m with a 28% rise in non-audit fees to £628m.
BP Amoco, audited by Ernst & Young, reports the highest audit fee: £18.7m. Its total fees to E&Y were £52.9m. HSBC paid its auditor, KPMG, £17.3m for the audit and £27.3m altogether. Shell paid its joint auditors, PricewaterhouseCoopers and KPMG, £11.4m for the audit and £42.9m altogether. Lloyds TSB paid PwC £4m for the audit and £36m altogether.
The survey shows a slight fall in PwC's dominance of the top 100 audits. It now audits 45.5 of them (counting joint audits as 0.5) against 49.5 last year. KPMG remains unchanged on 23. E&Y has gone up from 11 to 13.5. Deloitte & Touche has fallen from 12.5 to 10. And Andersen has risen from five audits to eight. The significant feature of these figures is that E&Y, which last year fell behind D&T for the first time, has now overtaken it again. The changes are almost entirely the result of changes in the FTSE 100 constituents, rather than of one firm being fired and another appointed.
Death of the newThe past year has seen unprecedented turmoil in the FTSE 100. Our survey reflects changes to the index's constituents announced on 12 September 2001. Since last year's survey, 21 of the constituent companies have changed. This reflects mergers, demergers and the fall from favour of TMT stocks - technology, media and telecommunications. The new economy is dead, and it can now be seen how the temporary wild enthusiasm for TMT stocks distorted the message given by the FTSE 100 stocks.
The changes provide part of the explanation for the significant apparent increase in FDs' pay. A number of the companies in the FTSE 100 a year ago were relatively small, but remarkably highly valued. Their FDs' pay was typically low by FTSE 100 standards, reflecting their real economic status rather than the market's inflated view of them. Now that they have been eliminated from the FTSE, the average FD's pay has risen partly through the mere fact of the change in the constituents of the index.
Because last year's survey included some unusually small companies, the figures for audit fees were also unusually low. Last year, we reported total audit fees of £175m; by contrast, last year's audit fees for the companies in this year's survey were £201m. This is accounted for by Shell now disclosing its audit fees and by the change in the index's constituents.
The year ahead seems likely to be one of further turmoil and declining profits. Perhaps directors' pay and accountants' fees will begin to reflect that.
Survey compiled by Christina Buckingham
FTSE 100 Finance Directors
Company | Year-end | Current FD | Qualifics. | FD in yr in question | Total pay (£000) | Previous yr (£000) | Yrs in post | Yrs in co |
3i Group | 31.3.01 | Michael Queen | FCA | M Queen | 480 | 490 | 4 | 14 |
ARM Holdings | 31.12.00 | Jonathan Brooks | ACMA | J Brooks | 236 | 170 | 3 | 6 |
Abbey National | 31.12.00 | Mark Pain | FCA | M Pain | 405 | 268 | 3 | 12 |
Alliance & Leicester | 31.12.00 | Richard Pym | FCA | R Pym | 571 | 568 | 8 | 9 |
Allied Domecq | 31.8.00 | Graham Hetherington | FCMA | G Hetherington | 539 | 294 | 2 | 10 |
Amersham | 31.12.00 | Giles Kerr | ACA | G Kerr | 418 | 318 | 4 | 10 |
Amvescap | 31.12.00 | Robert McCullough | CPA | R McCullough | 1,635 | 1,071 | 5 | 5 |
Anglo American | 31.12.00 | Tony Lea | - | T Lea | 592 | 541 | 2 | 29 |
Associated British Foods | 16.09.00 | John Bason | FCA | J Bason | 301 | 108 | 2 | 2 |
AstraZeneca | 31.12.00 | Jonathan Symonds | FCA | J Symonds | 833 | 769 | 4 | 4 |
BAA | 31.3.01 | Russell Walls | FCCA | R Walls | 468 | 320 | 6 | 6 |
BAE Systems | 31.12.00 | George Rose | FCMA | G Rose | 520 | 440 | 3 | 9 |
BG Group | 31.12.00 | Andrew Bonfield | CA | (SA) P Hampton | 913 | 364 | 10m | 15m |
BOC Group | 30.9.00 | Rene Medori | - | R Medori | 269 | 675 | 15m | 14 |
BP Amoco | 31.12.00 | John Buchanan | - | J Buchanan | 1,022 | 937 | 5 | 31 |
Barclays | 31.12.00 | John Varley | - | D Allvey | 686 | 445 | 1 | 19 |
Billiton | 30.6.00 | Michael Davis | CA | (SA) M Davis | 948 | 804 | 4 | 4 |
Boots Co | 31.3.01 | David Thompson | CA/FCIBS | D Thompson | 571 | 469 | 11 | 35 |
Brambles Industries | 30.6.02 | David Turner | FCA | - | - | - | 8 | 8 |
British Airways | 31.3.01 | John Rishton | ACMA | D Stevens | 410 | 292 | 2m | 2m |
British American Tobacco | 31.12.00 | Keith Dunt | FCA | K Dunt | 682 | 619 | 3 | 26 |
British Land | 31.3.01 | John Weston Smith | FCIS | J Weston Smith | 396 | 372 | 28 | 30 |
British Sky Broadcasting | 3.6.00 | Martin Stewart | ACA | M Stewart | 597 | 429 | 3 | 5 |
BT | 31.3.01 | Philip Hampton | ACA | R Brace | 541 | 524 | 11m | 11m |
CGNU | 31.12.00 | Mike Biggs | ACA | P Foster | 470 | 417 | 7m | 10 |
Cable and Wireless | 31.3.01 | Robert Lerwill | FCA | R Lerwill | 984 | 1,769 | 4 | 4 |
Cadbury Schweppes | 31.12.00 | David Kappler | FCMA | D Kappler | 1,349 | 1,057 | 6 | 12 |
Canary Wharf Group | 30.6.00 | Peter Andersen | - | P Andersen | 420 | 232 | 6 | 6 |
Capita Group | 31.12.00 | Gordon Hurst | FCA | G Hurst | 213 | 125 | 6 | 13 |
Celltech Group | 31.12.00 | Peter Allen | ACA | P Allen | 458 | 282 | 9 | 9 |
Centrica | 31.12.00 | Phillip Bentley | FCMA | M Clare | 450 | 373 | 1 | 1 |
Compass Group | 30.9.99 | Andrew Lynch | FCA | A Lynch | 458 | 346 | 4 | 9 |
Daily Mail & General Trust | 3.10.00 | Peter Williams | FCA | P Williams | 539 | 473 | 10 | 19 |
Diageo | 30.6.00 | Nick Rose | - | N Rose | 868 | 568 | 2 | 4 |
Dixons Group | 28.4.01 | Ian Livingston | FCA | I Livingston | 372 | 377 | 3 | 10 |
EMI Group | 31.3.01 | Tony Bates | FCA | T Bates | 732 | 220 | 22m | 11 |
Electrocomponents | 31.3.01 | Jeff Hewitt | FCA | J Hewitt | 377 | 341 | 5 | 5 |
Enterprise Oil | 31.12.00 | Andrew Shilston | FCA | A Shilston | 333 | 281 | 8 | 17 |
Friends Provident | 31.12.00 | Martin Jackson | FCA | M Jackson | 216 | 96 | 2 | 3 |
GKN | 31.12.00 | Nigel Stein | CA | D Turner | 398 | 450 | 3m | 7 |
Gallaher | 31.12.00 | Mark Rolfe | FCA | P Burchell | 254 | 532 | 15m | 15 |
GlaxoSmithKline | 31.12.00 | John Coombe | FCA | J Coombe | 791 | 537 | 9 | 15 |
Granada Media | 30.9.00 | Henry Staunton | FCA | H Staunton | 509 | 422 | 8 | 8 |
Great Universal Stores | 13.3.01 | David Tyler | FCMA | D Tyler | 540 | 317 | 4 | 4 |
HBOS | 31.12.01 | Mike Ellis | FCT | - | - | - | 2m | 14 |
HSBC Holdings | 31.12.00 | Douglas Flint | CA | D Flint | 813 | 503 | 6 | 6 |
Hanson | 31.12.00 | Jonathan Nicholls | FCA | J Nicholls | 373 | 356 | 3 | 5 |
Hays | 30.6.00 | Neil McLachlan | FCA | N McLachlan | 234 | 304 | 2 | 8 |
Hilton Group | 31.12.00 | Brian Wallace | ACA | B Wallace | 633 | 411 | 6 | 6 |
ICI | 31.12.00 | Tim Scott | ACMA | A Spall | 578 | 559 | 5m | 3 |
Imperial Tobacco | 23.9.00 | Robert Dyrbus | FCA | R Dyrbus | 597 | 601 | 5 | 12 |
Innogy | 31.3.01 | Jeff Bateson | - | - | 216 | - | 15m | 15m |
International Power | 31.12.00 | Philip Cox | FCA | - | 104 | - | 1 | 17m |
Invensys | 31.3.01 | Kathleen O'Donovan | ACA | K O'Donovan | 455 | 633 | 10 | 10 |
Kingfisher | 3.2.01 | Helen Weir | ACMA | P Rowley | 426 | 546 | 1 | 6 |
Land Securities | 31.3.01 | James Murray | FCA | J Murray | 533 | 331 | 10 | 20 |
Lattice | 31.12.00 | Steve Lucas | ACA | - | 56 | - | 11m | 7 |
Legal & General Group | 31.12.00 | Andrew Palmer | FCA | A Hobson | 425 | 454 | 10m | 13 |
Lloyds TSB Group | 31.12.00 | M Kent Atkinson | FIB | M K Atkinson | 509 | 482 | 4 | 30 |
Logica | 30.6.00 | Andrew Given | - | A Given | 353 | 353 | 11 | 11 |
MAN Group | 31.3.01 | PeterClarke | - | P Clarke | 1,411 | 962 | 17m | 8 |
Marks & Spencer | 31.3.01 | Robert Colvill | FCIS | R Colvill | 415 | 402 | 11 | 13 |
Morrison (Wm) Supermkts | 4.2.01 | Martin Ackroyd | FCT | M Ackroyd | 267 | 211 | 14 | 27 |
National Grid Group | 31.3.01 | Stephen Box | FCA | S Box | 455 | 348 | 4 | 4 |
Next | 27.1.01 | David Keens | - | D Keens | 420 | 386 | 10 | 15 |
Northern Rock | 31.12.00 | Robert Bennett | FCA/FCMA | R Bennett | 356 | 318 | 7 | 7 |
Old Mutual | 31.12.00 | Julian Roberts | FCA | E Anstee | 703 | 525 | 14m | 14m |
Pearson | 31.12.00 | John Makinson | ACA | J Makinson | 616 | 635 | 5 | 7 |
Powergen | 31.12.00 | Peter Hickson | FCA | P Hickson | 498 | 455 | 3 | 5 |
Prudential | 31.12.00 | Philip Broadley | FCA | P Broadley | 293 | 165 | 17m | 17m |
Reckitt Benckiser | 31.12.00 | Colin Day | FCCA | C Day | 328 | - | 13m | 13m |
Reed International | 31.12.00 | Mark Armour | ACA | M Armour | 571 | 391 | 5 | 5 |
Rentokil Initial | 31.12.00 | Roger Payne | ACCA | C Pearce | 428 | 409 | 9m | 15 |
Reuters Group | 31.12.00 | David Grigson | ACA | R Rowley | 632 | 556 | 14m | 14m |
Rio Tinto | 31.12.00 | Christopher Bull | FCA | C Bull | 577 | 547 | 10 | 10 |
Rolls-Royce | 31.12.00 | Paul Heiden | ACA | P Heiden | 419 | 354 | 2 | 9 |
Royal & Sun Alliance | 31.12.00 | Julian Hance | FCA | J Hance | 365 | 285 | 4 | 14 |
Royal Bank of Scotland | 31.12.00 | Fred Watt | CA | F Watt | 176 | - | 13m | 13m |
Safeway | 31.3.01 | Simon Laffin | ACMA | S Laffin | 444 | 317 | 5 | 11 |
Sage Group | 30.9.00 | Paul Harrison | ACA | A Hughes | 131 | 189 | 18m | 4 |
Sainsbury (J) | 31.3.01 | Roger Matthews | FCA | R Matthews | 565 | 602 | 2 | 2 |
Schroders | 31.12.00 | Nicholas MacAndrew | FCA | N MacAndrew | 1,431 | 967 | 10 | 30 |
Scottish & Newcastle | 30.4.01 | Ian McHoul | ACA | D Wilkinson | 353 | 320 | 3m | 3 |
Scottish & Southern Energy | 31.3.01 | Ian Marchant | ACA | I Marchant | 366 | 295 | 5 | 9 |
Scottish Power | 31.3.01 | David Nish | CA | D Nish | 253 | 91 | 22m | 4 |
Severn Trent | 31.3.01 | Alan Costin | FCA | A Costin | 264 | 231 | 9 | 9 |
Shell | 31.12.00 | None | - | - | - | - | - | - |
Shire Pharmaceuticals | 31.12.00 | Angus Russell | ACT/ACA | A Russell | 315 | 13 | 21m | 21m |
Six Continents | 30.9.00 | Richard North | FCA | R North | 643 | 543 | 6 | 6 |
Smith & Nephew | 31.12.00 | Peter Hooley | FCA | P Hooley | 489 | 432 | 10 | 10 |
Smiths Group | 31.7.00 | Alan Thomson | CA | A Thomson | 456 | 390 | 6 | 6 |
South African Breweries | 31.3.01 | Malcolm Wyman | CA | (SA) N Cox | 457 | 502 | 8m | 15 |
Standard Chartered | 31.12.00 | Peter Kenny | FCA | P Kenny | 754 | 307 | 2 | 2 |
Tesco | 24.2.01 | Andrew Higginson | FCMA | A Higginson | 809 | 644 | 4 | 4 |
Unilever | 31.12.00 | Rudy Markham | FCMA | P Cescau | 699 | 271 | 15m | 33 |
United Business Media | 31.12.00 | Nigel Wilson | - | C Stern | 519 | 403 | 3m | 3m |
United Utilities | 31.3.01 | Simon Batey | FCA | S Batey | 416 | - | 18m | 18m |
Vodafone AirTouch | 31.3.01 | Ken Hydon | FCMA/FCCA | K Hydon | 3,036 | 762 | 16 | 16 |
Wolseley | 31.7.00 | Stephen Webster | FCA | S Webster | 309 | 277 | 7 | 7 |
WPP Group | 31.12.00 | Paul Richardson | ACA/ACT P Richardson | 428 | 349 | 5 | 9 |
NOTES
Pay is from date of appointment to year-end. When no comparative is given, the information was not available in the annual report. Qualifications are listed if provided in the annual report or ICAEW/CIMA/ACCA members' register. Salaries for AstraZeneca, Billiton, BP, and Shire Pharmaceuticals were quoted in dollars; they have been changed as at the exchange rate at 31.12.00 of $1.4938 to the £. Salaries for Unilever quoted in euros and converted at 31.12.00 rate of 1.5911 to the £.
BOC, Diageo, Hays, Prudential, Sainsbury: prior year figures are for the prvious FD. Brambles - new conglomerate. No annual rep ort yet. Compass Group - no annual accounts for 2000 because of Granada merger or since then because of demerger. GSK - salary refers to positio n as FD of GlaxoWellcome. HBOS - new conglomerate. No annual report yet.
FTSE 100 AuditorsFTSE 100 | year end | auditors | audit fee £m | other: uk £m | other: o/s £m | prev yr audit fee | prev other UK | prev other o/s |
3i Group | 31.3.01 | E & Y | 0.5 | 0.3 | 0.1 | 0.4 | 0.6 | - |
ARM holdings | 31.12.00 | PwC | 0.14 | 0.158 | - | 0.074 | 0.284 | - |
Abbey National | 31.12.00 | D & T | 4 | 7.8 | - | 4.1 | 6.1 | - |
Alliance & Leicester | 31.12.00 | D & T | 0.3 | 0.8 | - | 0.2 | 1.4 | - |
Allied Domecq | 31.8.00 | KPMG | 2 | 1 | - | 2 | 3 | - |
Amersham | 31.12.00 | PwC | 1.2 | 0.4 | - | 1 | 0.8 | - |
Amvescap | 31.12.00 | AA | 1.36 | 1.29 | - | 1.22 | 1.04 | - |
Anglo American | 31.12.00 | D & T | 6.69 | 1.34 | 1.34 | 7.36 | 2.01 | 6.02 |
Associated British Foods | 16.9.00 | KPMG | 1.9 | 2.7 | - | 1.9 | 1.4 | - |
AstraZeneca | 31.12.00 | KPMG | 2.14 | 5.96 | 3.35 | 3.88 | 13.9 | 5.62 |
BAA | 31.3.01 | D & T | 0.704 | 1.14 | 1.06 | 0.579 | 2.56 | 0.701 |
BAE Systems | 31.12.00 | KPMG | 3.03 | 14.3 | 1.91 | 2.99 | 9.05 | 0.597 |
BG Group | 31.12.00 | PwC | 1.4 | 4.5 | 1.8 | 1.3 | 4.9 | 1.9 |
BOC Group | 30.9.00 | PwC | 1.8 | 2.6 | 0.7 | 1.6 | 0.2 | 0.8 |
BP Amoco | 31.12.00 | E & Y | 18.7 | 13.4 | 20.8 | 13.4 | 10.0 | 14.1 |
Barclays | 31.12.00 | PwC | 4.6 | 15.6 | 11.4 | 4.2 | 29.1 | 5.7 |
Billiton | 30.6.00 | KPMG/ PwC | 2.01 | 6.02 | - | 2.68 | 4.02 | - |
Boots Co | 31.3.01 | KPMG | 0.9 | 2.1 | 0.2 | 0.8 | 6.4 | 0.4 |
Brambles Industries | 30.6.02 | PwC | - | - | - | - | - | - |
British Airways | 31.3.01 | E & Y | 1.25 | 3.56 | 0.568 | 1.22 | 1.56 | 0.406 |
British American Tobacco | 31.12.00 | PwC | 6 | 2 | 4.3 | 6 | 3 | 3.7 |
British Land | 31.3.01 | AA | 0.5 | 1.4 | - | 0.5 | 2.3 | - |
British Sky Broadcasting | 30.6.00 | AA | 0.4 | 5.7 | - | 0.4 | 2.4 | - |
BT | 31.3.01 | PwC | 2.1 | 16.2 | 3.02 | 2.06 | 12.7 | 6.4 |
CGNU | 31.12.00 | PwC/E&Y | 6.7 | 36.8 | 6.2 | 8.9 | 9.2 | 2.7 |
Cable & Wireless | 31.3.01 | KPMG | 2.7 | 12.4 | 4.6 | 2.5 | 9.5 | 5.0 |
Cadbury Schweppes | 31.12.00 | AA | 2 | 3 | - | 2 | 1 | - |
Canary Wharf Group | 30.6.00 | AA | 0.237 | 0.221 | - | 0.225 | 2.07 | - |
Capita Group | 31.12.00 | E & Y | 0.330 | 0.177 | - | 0.232 | 0.581 | - |
Celltech Group | 31.12.00 | E & Y | 0.4 | 0.7 | - | 0.1 | 0.3 | - |
Centrica | 31.12.00 | PwC | 1.3 | 10.5 | - | 1.1 | 2.5 | - |
Compass Group | 30.9.99 | D & T | 1.5 | 0.9 | - | 1.4 | 4 | - |
Daily Mail & General Trust | 1.10.00 | PwC | 1.9 | 0.9 | - | 1.6 | 0.7 | - |
Diageo | 30.6.00 | KPMG | 2.5 | 4.5 | 2.5 | 2.6 | 1.5 | 1.7 |
Dixons Group | 28.4.01 | D & T | 0.5 | 1.2 | - | 0.4 | 1.9 | - |
EMI Group | 31.3.01 | E & Y | 2.4 | 3.5 | 1.6 | 2.2 | 0.3 | 1.5 |
Electrocomponents | 31.3.01 | KPMG | 0.5 | 0.8 | - | 0.5 | 0.7 | - |
Enterprise Oil | 31.12.00 | KPMG | 0.394 | 0.134 | 0.243 | 0.382 | 0.308 | 0.172 |
Friends Provident | 31.1.200 | PwC | 0.3 | 1.7 | - | 0.5 | 0.2 | - |
GKN | 31.12.00 | PwC | 2.7 | 1.5 | - | 2.5 | 0.7 | - |
Gallaher | 31.1.200 | PwC | 0.5 | 1.5 | - | 0.4 | 1.4 | - |
GlaxoSmithKline | 31.12.00 | PwC | 6.3 | 9.4 | 15.3 | 6.5 | 5.2 | 8.9 |
Granada Media | 30.9.00 | KPMG | 0.297 | 2.6 | - | 0.117 | 0.072 | - |
Great Universal Stores | 31.3.01 | PwC | 1.9 | 8.3 | - | 1.7 | 5.4 | - |
HBOS | 31.12.01 | KPMG | - | - | - | - | - | - |
HSBC Holdings | 31.12.00 | KPMG | 17.3 | 10 | - | 13.3 | 11.8 | - |
Hanson | 31.12.00 | E & Y | 1.5 | 2.1 | 0.6 | 1.3 | 0.5 | 0.7 |
Hays | 30.6.00 | D & T | 1.2 | 0.6 | - | 1.2 | 0.5 | - |
Hilton Group | 31.12.00 | E & Y | 1.5 | 0.7 | 0.7 | 1.6 | 1.3 | 0.6 |
ICI | 31.12.00 | KPMG | 2.9 | 5.1 | - | 3.5 | 6.3 | - |
Imperial Tobacco | 23.9.00 | PwC | 0.7 | 0.8 | 0.4 | 0.6 | 1.2 | 0.2 |
Innogy | 31.3.01 | KPMG | 0.4 | 0.3 | - | - | - | - |
International Power | 31.12.00 | KPMG | 0.9 | 7.4 | - | 0.9 | 5.0 | - |
Invensys | 31.3.01 | E & Y | 4 | 5 | 3 | 4 | 5 | 3 |
Kingfisher | 3.2.01 | PwC | 1.6 | 8.3 | - | 1.2 | 4.7 | - |
Land Securities | 31.3.01 | PwC | 0.3 | 2.3 | - | 0.2 | 0.491 | - |
Lattice Group | 31.12.00 | PwC | 1.3 | 1.2 | - | 1.4 | 3.6 | - |
Legal & General Group | 31.12.00 | PwC | 1.0 | 0.4 | 0.1 | 1.1 | 1.2 | 0.2 |
Lloyds TSB Group | 31.12.00 | PwC | 4 | 32 | - | 4 | 29 | - |
Logica | 30.6.00 | PwC | 0.6 | 0.5 | - | 0.5 | 0.3 | - |
MAN Group | 31.3.01 | PwC | 0.8 | 0.1 | - | 0.7 | 0.2 | - |
Marks and Spencer | 31.3.01 | PwC | 1.1 | 2.1 | - | 1.1 | 2.8 | |
Morrison (Wm) Supermkts | 4.2.01 | KPMG | 0.140 | 0.072 | - | 0.136 | 0.043 | - |
National Grid Group | 31.3.01 | PwC | 1.0 | 11.4 | - | 0.5 | 4.2 | - |
Next | 27.1.01 | E & Y | 0.2 | 0.1 | - | 0.2 | 0.1 | - |
Northern Rock | 31.12.00 | PwC | 0.2 | 1.5 | - | 0.2 | 0.9 | - |
Old Mutual | 31.12.00 | KPMG | 4 | 4 | - | 3 | 2 | - |
Pearson | 31.12.00 | PwC | 2 | 3 5 | 2 10 | 2 | ||
Powergen | 31.12.00 | PwC | 0.6 | 2.6 | - | 0.5 | 4.7 | - |
Prudential | 31.12.00 | KPMG | 1.9 | 18.8 | 1.2 | 1.6 | 10.4 | 1.6 |
Reckitt Benckiser | 31.12.00 | PwC | 1.9 | 2.2 | - | 2.3 | 4.6 | - |
Reed International | 31.12.00 | D & T | 0.022 | 0.350 | - | 0.021 | - | - |
Rentokil Initial | 31.12.00 | PwC | 2.4 | 2.2 | - | 2.6 | 0.1 | - |
Reuters Group | 31.12.00 | PwC | 1.8 | 5.9 | 7.2 | 1.9 | 4.7 | 5.9 |
Rio Tinto | 31.12.00 | PwC | 2.7 | 3.2 | - | 2.7 | 4.2 | - |
Rolls-Royce | 31.12.00 | KPMG | 2.9 | 1.1 | 0.9 | 2 0.7 | 0.7 | |
Royal & Sun Alliance | 31.12.00 | PwC | 4.20 | 11.0 | - | 4.29 | 3.90 | - |
Royal Bank of Scotland | 31.12.00 | D & T | 4.9 | 4.0 | - | 2.4 | 9.4 | - |
Safeway | 31.3.01 | AA | 0.3 | 0.3 | - | 0.3 | 0.3 | - |
Sage Group | 30.9.00 | PwC | 0.440 | 0.450 | - | 0.322 | 0.149 | - |
Sainsbury (J) | 31.3.01 | PwC | 0.7 | 12.9 | - | 0.7 | 5.2 | - |
Schroders | 31.12.00 | PwC | 1.1 | 3.6 | 0.5 | 2.0 | 0.7 | 0.6 |
Scottish & Newcastle | 29.4.01 | E & Y | 1.2 | 3.0 | - | 0.8 | 2.1 | - |
Scottish & Southern Energy | 31.3.01 | KPMG | 0.2 | 0.03 | - | 0.2 | 0.05 | - |
Scottish Power | 31.3.01 | PwC | 1.5 | 11.4 | - | 1.1 | 10.1 | - |
Severn Trent | 31.3.01 | PwC | 0.6 | 2.9 | - | 0.5 | 0.7 | - |
Shell T & T | 31.12.00 | PwC/KPMG | 11.4 | 31.5 | - | 12.0 | 20.1 | - |
Shire Pharmaceuticals | 31.12.00 | AA | 0.350 | 1.40 | - | 0.289 | 0.994 | - |
Six Continents | 30.9.00 | E & Y | 1.7 | 1.3 | - | 1.6 | 0.9 | - |
Smith & Nephew | 31.12.00 | E & Y | 1 | 1.2 | 0.9 | 1.1 | 0.5 | 0.8 |
Smiths Group | 31.7.00 | PwC | 1.5 | 0.1 | 1.2 | 1.3 | 0.1 | 0.6 |
South African Breweries | 31.3.01 | PwC | 2.01 | 4.69 | - | 2.01 | 3.35 | - |
Standard Chartered | 31.12.00 | KPMG | 2.9 | 3.4 | - | 2.7 | 1.2 | - |
Tesco | 24.2.01 | PwC | 0.8 | 0.5 | 0.4 | 0.8 | 1.6 | 2.0 |
Unilever | 31.12.00 | PwC | 8.17 | 39.0 | - | 7.54 | 22.0 | - |
United Business Media | 31.12.00 | PwC | 0.6 | 13.3 | - | 1.0 | 13.1 | - |
United Utilities | 31.3.01 | KPMG | 0.3 | 0.7 | - | 0.3 | 0.4 | - |
Vodafone AirTouch | 31.3.01 | D&T | 3 | 12 | 10 | 1 10 | 6 | |
Wolseley | 31.7.00 | PwC | 1.5 | 3.0 | 1.0 | 1.9 | 2.0 | 1.6 |
WPP Group | 31.12.00 | AA | 3.7 | 6.4 | - | 2.4 | 3.7 | - |
NOTES
Fees for Anglo American, AstraZeneca, BP, Billiton, HSBC Holdings, Shell and South African Breweries are quoted in dollars. They have been converted as at the exchange rate of 31.12.00 of $ 1.4938 to the £. Audit fees for Unilever are quoted in euros. They have been converted as at the exchange rate of 31.12.00 of 1.5911 to the £. Billiton - fees not split between KPMG and PwC. CGNU - audit fees are not divided between PwC and Ernst & Young. Compass Group - produced no annual report in 2000 because of Granada merger or since then because of demerger. Shell - fees not split between KPMG and PwC. HBOS - new conglomerate. No annu al report yet. Prior year figures for Alliance & Leicester relate to KPMG. Prior year figures for AstraZeneca include fees paid to D&T. Prior year figures for Prudential include fees paid to PwC. Prior year figures for Reckitt Benckiser include fees paid to D&T. Prior year figures for Royal Bank of Scotland relate to PwC. UK figures for non-audit fees may include fees for overseas work where they are not disclosed seperately.