Corporate
Governance Report
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the objective that arrangements are in place for the
independent investigation of such matters and for
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to ascertain that the guidelines and procedures
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is adequately resourced and has appropriate standing
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auditors (including the review of their fees and scope of
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compliance with applicable legislation, including the
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financial, operational, compliance and information
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policies and instruments to be implemented by IREIT to
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into of any foreign exchange hedging transactions and
monitoring the implementation of such policy, including
reviewing the instruments, processes and practices in
accordance with the policy for entering into foreign
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and recommendations.
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management and enjoys full discretion to invite any
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resources to enable it to discharge its function properly.
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such services will not prejudice the independence and
objectivity of the external auditors.
For the financial year ended 31 December 2015, the
aggregate amount of fees paid and payable by IREIT to the
external auditors was €317,000, comprising audit service
fees of €109,000, fees in relation to services rendered in
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the Rights Issue of approximately €90,000, and other non-
audit service fees of €118,000.
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quarter before the official announcement of results
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external and internal auditors separately, without the
presence of management.
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satisfied that IREIT has complied with the requirement
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assessed the performance of the external auditors based
on factors such as the performance and quality of their
audit and the independence of the auditors.
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accounting standards on IREIT’s financial statements by
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IREIT’s external auditors.
Principle 13: Establishment of an internal audit function that
is independent of the activities it audits
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systems to safeguard IREIT’s assets, Unitholders’ interests
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reviews the adequacy and effectiveness of the internal
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the internal auditor has the relevant qualifications and
experience and has met the standards established by
internationally recognised professional bodies including
the International Standards for the Professional Practice of
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reviews and approves the annual internal audit plan and
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meets with the internal auditor, without the presence of
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that the internal auditor has adequate resources to perform
its functions and has to the best of its ability, maintained its
independence from the activities that it audits.
IREIT Global
ANNUAL REPORT 2015
49
