5. Prior Period Error
A prior period error has been restated regarding a correction to the provision for annual leave in prior years.
The amount of restatement is $831,325 and the amount was corrected against opening retained earnings in
the comparative year 2007. The restatement was also adjusted against the annual leave provision balance in
the comparative year 2007. The effect of the restatement was to reduce opening retained earnings in 2007 and
increase the annual leave provision.
6. Key Management Personnel Remuneration
The specified directors of KU Children’s Services during the year were:
• Penelope Le Couteur (non-executive) • Graham Vimpani (non-executive)
• Sarah Cordle (non-executive) • Jane Ward (non-executive)
• David Bryant (non-executive) • Stuart Washington (non-executive)
• Serena Beirne (non-executive)
appointed 27 May 2008,
resigned 30 September 2008
• Deborah Homewood (non-executive)
resigned 27 May 2008
• Melissa Potter (non-executive)
• Sally-Anne Reid (non-executive)
• Catherine Reid (non-executive)
resigned 27 May 2008
leave of absence granted -
September 2008 to April 2009
• Lorraine Young (non-executive)
resigned 27 May 2008
• Yooie Choi (non-executive)
• David McCracken (non-executive)
appointed 27 May 2008
• John Schroder (non-executive)
appointed 27 May 2008
No director has received or become entitled to receive any remuneration from the company in their capacity as a
director (2007: nil).
The specified executives of KU Children’s Services during the year were:
• Sheridan Dudley
Chief Executive Officer
• Neil Fletcher
Chief Financial Officer, resigned 18 April 2008
• Michelle Underwood
General Manager Business Development
• Chris Legg
General Manager Preschool and
Long Day Care Services
• Margaret Brodie
General Manager Corporate Services, appointed
28 April 2008
• Brian Russell
Manager Human Resources, resigned
4 July 2008
• Karen Dawson
Manager Marketing, appointed 25 March 2008
• Luke Borojevic
Manager Information Technology, resigned
23 May 2008
2008 2007
$ $
The aggregate compensation of the key executive management personnel
of the company is set out below:
Short term employee benefits
1,283,950
1,088,432
Continues...
113th Annual Report 2008
29