true value for investors

The Randstad share reflects true value for investors. This may sound odd, given that Total Shareholder Return amounted to minus 42% in 2008 and that no dividend will be paid for 2008. However, long-term prospects are positive.

annual report 2008 | consolidated financial statements | notes to the consolidated financial statements | 36. Auditors’ fees

36. Auditors’ fees

(amounts in millions of €, unless otherwise indicated)

The following auditors’ fees were expensed in the income statement in the reporting period:


	2008	2007

Audit of the financial statements ¹	4.2	2.1
Audit of the financial statements by other audit firms	1.0	0.1

Subtotal for audit of the financial statements²	5.2	2.2

Other audit procedures ¹	0.5	0.1
Tax services ¹	0.4	0.1
Other non-audit services ¹	0.9	0.4

Total	7.0	2.8

¹	The fees listed above relate to the procedures applied to the company and its consolidated Group entities by PricewaterhouseCoopers as the external auditor referred to in Section 1(1) of the Dutch Accounting Firms Oversight Act (Wta), as well as by the PricewaterhouseCoopers network.
²	Including the audit fees with respect to the local statutory financial statements.

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notes

1.	general information
2.	summary of significant accounting policies
3.	consolidated cash flow statement
4.	critical accounting estimates and judgments
5.	capital and financial risk management
6.	revenue
7.	cost of services
8.	gross profit
9.	selling expenses
10.	general and administrative expenses
11.	total operating expenses
12.	operating profit
13.	net finance costs
14.	taxes on income
15.	net income
16.	earnings per ordinary share
17.	property, plant and equipment
18.	intangible assets
19.	deferred and current income taxes
20.	financial assets
21.	associates
22.	trade and other receivables
23.	cash and cash equivalents
24.	total assets
25.	shareholders’ equity and dividends per share
26.	preferred shares as a liability
27.	borrowings
28.	provisions
29.	other non-current liabilities
30.	trade and other payables
31.	total liabilities
32.	maturities of financial liabilities
33.	operating working capital
34.	net cash and borrowings
35.	commitments
36.	auditors’ fees
37.	notes to the consolidated cash flow statement
38.	wages and salaries, social security charges and pension charges
39.	employee numbers (average)
40.	share-based payments
41.	related-party transactions
42.	overview of major subsidiaries