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APA » Topics » INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

This excerpt taken from the APA DEF 14A filed Mar 30, 2007.
INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS
 
Ernst & Young LLP was the Company’s independent registered public accounting firm for the fiscal year 2006. Representatives of Ernst & Young will be present at the annual meeting and will have an opportunity to make a statement if they desire to do so and to respond to appropriate questions regarding Apache business.
 
Ernst & Young’s audit report on Apache’s consolidated financial statements as of and for the fiscal year ended December 31, 2006 did not contain any adverse opinion or disclaimer of opinion, and it was not qualified or modified as to uncertainty or audit scope; however, it was modified for the addition of new accounting principles.
 
During Apache’s most recent fiscal year ended December 31, 2006, and through the filing date of this proxy statement, there were no disagreements with Ernst & Young on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Ernst & Young’s satisfaction, would have caused Ernst & Young to make reference to the subject matter of the disagreement in connection with their report; and there were no reportable events, as described in Item 304 (a) (1) (v) of Regulation S-K.
 
During 2006 and 2005, Ernst & Young provided various services to Apache. The aggregate fees for each of the following types of services are set forth below:
 
                 
 Description   Amounts (in thousands)  
      2006     2005  
Audit Services(1)
  $ 4,823     $ 3,963  
Audit-Related Services(2)
  $ 280     $ 232  
Tax Services(3)
  $ 649     $ 662  
All Other Services(4)
  $ 0     $ 0  
                 
 
(1) Audit Services include the annual financial statement audit (including required quarterly reviews), subsidiary audits, and other procedures required to be performed by the independent auditor to be able to form an opinion on the Company’s consolidated financial statements. These other procedures include information systems and procedural reviews and testing performed in order to understand and place reliance on the systems of internal control, and consultations relating to the audit or quarterly reviews.
 
(2) Audit-Related Services are assurance and related services that are reasonably related to the performance of the audit or review of the Company’s financial statements or that are traditionally performed by the independent auditor. Audit-related services include, among other things, due diligence services pertaining to potential business acquisitions/dispositions; accounting consultations related to accounting, financial reporting or disclosure matters not classified as “Audit Services”, assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; financial audits of employee benefit plans; agreed upon or expanded audit procedures related to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements.
 
(3) Tax Services include, tax return preparation assistance, tax planning, tax-related and structuring-related consultation, and tax-related acquisition due diligence.
 
(4) All Other Services are fees for products and services other than those in the three categories above.
 
The audit committee of the Company’s board of director’s reviews summaries of the services provided by Ernst & Young and the related fees, and has taken into consideration whether the provision of non-audit services by Ernst & Young is compatible with maintaining auditor independence.


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