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NOTES
116 • Consolidated financial statements
PANDORA ANNUAL REPORT 2016
SECTION 5: OTHER DISCLOSURES, CONTINUED
5.4 FEES TO INDEPENDENT AUDITOR
DKK million
2016
2015
Fee for statutory audit
7
5
Other assurance engagements
1
2
Total audit related services
8
7
Tax consultancy
5
9
Other services
3
4
Total non-audit services
8
13
Total fees to independent auditor
16
20
The costs are recognised in the consolidated income statement as administrative expenses.
PANDORA has implemented a policy regarding non-
audit services delivered by the auditor appointed at the
Annual General Meeting. The policy states that the ratio
between non-audit and audit services does not exceed 1
over a period of three consecutive years unless otherwise
approved by the Audit Committee. The policy also states
which services are allowed or prohibited.
Other services include fees for advisory services related to
acquisitions and include both accounting and tax as well
as due diligence-related work. All non-audit services have
been approved by the Audit Committee in 2016.