This excerpt taken from the CQB DEF 14A filed Apr 6, 2009.
Audit Committee Pre-Approval Policies and Procedures
The Audit Committee reviews and pre-approves all audit and permissible non-audit services to be provided by the independent registered public accounting firm. Non-audit services may include audit-related services, tax services and other services not prohibited by SEC rules on auditor independence. Pre-approval is detailed as to the particular service or category of services and generally is subject to a specific budget. The independent registered public accounting firm reports periodically to the Audit Committee regarding the extent of services provided in accordance with the Audit Committees pre-approvals and the fees for services performed to date. In 2008, the Audit Committee pre-approved all fees for PwCs and E&Ys services, respectively. The Audit Committee determined that the non-audit services provided to the company by PwC in 2008 were compatible with maintaining its independence.
In 2007, the Audit Committee approved guidelines that allow the Chairman of the Committee to approve individual PwC service fees of less than $50,000, with a summary of these services to be provided to the other members of the Audit Committee at its next regularly scheduled meeting. In addition, to accommodate the need for timely performance of certain non-audit services, the Audit Committee annually may pre-approve up to an aggregate of $50,000 for audit-related services, tax compliance services and tax advisory services in support of the tax compliance services without prior discussion of the nature and scope of the services to be provided. To the extent that services requested by company employees differ in nature and scope from the pre-approved items, separate Audit Committee pre-approval will be required prior to commencement of those services.