44 2022 ANNUAL REPORT 12. REMUNERATION REPORT (AUDITED) (cont.) 12.9.6 Transactions with Key Management Personnel and their related parties The NEDs Kevin Dundo, Ian Macpherson and Andrea Sutton invoice for their directors fees through their private companies. They are not separate entities that provide consulting services to the Company. NEDs Colin Loosemore, Steven Tombs and Fiona Harris are paid directors fees through the Company’s payroll. Mr Dundo, Mr Macpherson, Mr Loosemore, Mr Tombs, Ms Sutton and Ms Harris meet the definition and maintain their status as independent NEDs, thus retain objectivity and their ability to meet their oversight role. END OF AUDITED REMUNERATION REPORT 13. NON AUDIT SERVICES During the year, Red 5’s external auditors, KPMG, have provided other services in addition to their statutory audit function. Non audit services provided by the external auditors comprised $44,546 (2021: $173,887) for non-audit services. Further details of remuneration of the auditors are set out in Note 25. The Board has considered the non-audit services provided during the year and is satisfied that the provision of those services is compatible with the general standard of independence for auditors imposed by the Corporations Act and did not compromise the auditor independence requirements of the Corporations Act, for the following reasons: \ \ All non-audit services were subject to the corporate governance guidelines adopted by Red 5; \ \ Non-audit services have been reviewed by the audit committee to ensure that they do not impact the impartiality or objectivity of the auditor; and \ \ The non-audit services provided do not undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants, as they did not involve reviewing or auditing the auditor’s own work, acting in a management or decision making capacity, acting as an advocate for Red 5 or jointly sharing economic risks and rewards. 14. AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under Section 307C of the Corporations Act is included immediately following the Directors’ Report and forms part of the Directors’ Report. 15. ROUNDING The Company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 and in accordance with that instrument, all financial information has been rounded to the nearest thousand dollars, unless otherwise stated. Signed in accordance with a resolution of the Directors. Kevin Dundo Chairman Perth, Western Australia 31 August 2022 DIRECTORS’ Report (cont.)
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