This excerpt taken from the XIDE DEF 14A filed Jul 27, 2006.
Fees of Independent Public Accountants for Fiscal 2006 and 2005
The following table presents fees for professional services rendered by PricewaterhouseCoopers LLP for the audit of our annual financial statements and internal control over financial reporting for fiscal 2006 and fiscal 2005, together with fees for audit-related services and tax services rendered by PricewaterhouseCoopers LLP for fiscal 2006 and fiscal 2005.
All audit, audit-related and tax services were pre-approved by the Audit Committee, which concluded that the provision of such services by PricewaterhouseCoopers LLP was compatible with the maintenance of that firms independence in the conduct of its auditing functions. The Audit Committees charter provides that individual engagements must be separately approved. The policy also requires specific approval by the Audit Committee if total fees for audit-related and tax services would exceed total fees for audit services in any fiscal year. The policy authorizes the Audit Committee to delegate to one or more of its members pre-approval authority with respect to permitted services.
Pursuant to the Audit Committee charter, the Audit Committee must approve all audit engagement fees and other significant compensation to be paid to the independent auditor and the terms of such engagement. Additionally, the Audit Committee must pre-approve any non-audit services to be provided to our company by the independent auditor. Based on the fees disclosed above, approximately 37% of PricewaterhouseCoopers fees approved by the Audit Committee related to audit of our internal control over financial reporting for the fiscal year ended March 31, 2006.
The Board of Directors recommends a vote FOR the ratification of the appointment of PricewaterhouseCoopers LLP as our companys independent auditors for fiscal 2007.