168 / 204
166
Rothschild & Co | Annual Report 2017
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Companies
accounted
for by the equity
method
Executive
Directors
Other related
parties
Companies
accounted
for by the equity
method
Executive
Directors
Other related
parties
In thousands of euro
Income and expenses from transactions with
related parties
Interest received
–
–
21
–
7
503
Other income
560
–
474
1,277
–
–
TOTAL INCOME
560
–
495
1,277
7
503
Other expenses
(247)
–
(2,346)
(744)
–
(3,105)
TOTAL EXPENSES
(247)
–
(2,346)
(744)
–
(3,105)
During the prior year the Group purchased, from a related party being a member of the concert party, a 13.07% interest in Rothschild Holding AG. The
purchase price of CHF64 million (€60 million), which was settled in cash, was determined using an independent third party valuation. This purchase
continued the Group’s policy of reducing non-controlling interests in subsidiaries. At the same time, the same related party received a cash settlement
of an amount due in respect of a similar share purchase transaction undertaken in a prior year. As the amount settled was CHF16 million (€15 million)
lower than the carrying value of the liability, the resulting gain for the Group was treated as a capital contribution from a shareholder and taken directly
to equity. This accounting treatment was shown in the consolidated statement of changes in equity as “Other movements”.
Note 33 – Fees to statutory auditors
KPMG
Cailliau Dedouit et Associés
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
In thousands of euro
%
%
%
%
AUDIT
Statutory audit of consolidated and solo accounts, and related services:
R&Co (parent company)
156
5% 186
6% 156
36% 186
51%
Subsidiaries
2,334
75% 2,346
71% 238
56% 157
43%
Services other than the statutory audit of accounts, required for legal or regulatory reasons:
R&Co (parent company)
40
1% 119
4%
15
4%
–
–
Subsidiaries
298
10% 309
9%
19
4%
23
6%
Subtotal
2,828
91% 2,960
89% 428 100% 366 100%
Services other than the statutory audit of accounts, provided at the request of entities:
Law, tax and social
225
7% 293
9%
–
–
–
–
Other
50
2%
74
2%
–
–
–
–
Subtotal
275
9% 367
11%
–
–
–
–
TOTAL
3,103 100% 3,327 100% 428 100% 366 100%
Notes to the consolidated financial statements