HDNG » Topics » Independent Auditor Information

This excerpt taken from the HDNG DEF 14A filed Mar 28, 2008.

Independent Auditor Information

        The Company incurred the following fees for services performed by Ernst & Young LLP in 2007 and 2006:

 
  2007
  2006
Audit Fees(1)   $ 1,001,325   $ 1,062,579
Audit Related Fees(2)     17,440     30,639
Tax Fees(3)     33,926     24,295
All Other Fees(4)         3,500
   
 
Total   $ 1,052,691   $ 1,121,013
   
 

(1)
Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for professional services rendered for the audit of the Company's annual financial statements for each of the years ended December 31, 2007 and 2006, for review of the financial statements included in the Company's Quarterly Reports on Form 10-Q for each of those years, and for services that are normally provided in connection with statutory and regulatory filings. The amount also includes fees billed for the audit of internal control over financial reporting required by Section 404 of the Sarbanes-Oxley Act of 2002,

10


    and fees of $62,394 in connection with the Company's common stock offering completed in April 2007.

(2)
Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for assurance and related services reasonably related to the performance of the audit or review of the Company's financial statements for each of the years ended December 31, 2007 and 2006, and not included in the Audit Fees listed above. These services include audits of the Company's employee benefit plans or consultations in connection with acquisitions.

(3)
Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for tax compliance, tax advice and tax planning for each of the fiscal years ended December 31, 2007 and 2006. These services included tax return preparation, and other U.S. and non-U.S. tax advisory and tax compliance services.

(4)
These are fees for other permissible work performed by Ernst & Young LLP that does not meet the above category description. This includes a subscription to Ernst & Young LLP, EY online research tool.

        The Audit Committee has the sole and direct authority to engage, appoint and replace other independent auditors. In addition, every engagement of Ernst & Young LLP to perform audit or non-audit services on behalf of the Company or any of its subsidiaries requires pre-approval from the Audit Committee before Ernst & Young LLP is engaged to provide those services. As a result, for 2007 and 2006, the Audit Committee approved all services performed by Ernst & Young LLP on behalf of the Company and its subsidiaries.

This excerpt taken from the HDNG DEF 14A filed Mar 28, 2007.

Independent Auditor Information

The Company incurred the following fees for services performed by Ernst & Young LLP in 2006 and 2005:

 

2006

 

2005

 

Audit Fees(1)

 

$

1,062,579

 

$

829,759

 

Audit Related Fees(2)

 

30,639

 

32,043

 

Tax Fees(3)

 

24,295

 

100,768

 

All Other Fees(4)

 

3,500

 

 

Total

 

$

1,121,013

 

$

962,570

 


(1)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for professional services rendered for the audit of the Company’s annual financial statements for each of the years ended December 31, 2006 and 2005, for review of the financial statements included in the Company’s Quarterly Reports on Form 10-Q for each of those years, and for services that are normally provided in connection with statutory and regulatory filings. The amount also includes for fees billed for the

9




audit of internal control over financial reporting required by Section 404 of the Sarbanes-Oxley Act of 2002.

(2)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for assurance and related services reasonably related to the performance of the audit or review of the Company’s financial statements for each of the years ended December 31, 2006 and 2005, and not included in the Audit Fees listed above. These services include audits of the Company’s employee benefit plans or consultations in connection with acquisitions.

(3)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for tax compliance, tax advice and tax planning for each of the fiscal years ended December 31, 2006 and 2005. These services included tax return preparation, and other U.S. and non-U.S. tax advisory and tax compliance services.

(4)          These are fees for other permissible work performed by Ernst & Young LLP that does not meet the above category description. This includes a subscription to Ernst & Young LLP, EY online research tool.

The Audit Committee has the sole and direct authority to engage, appoint and replace other independent auditors. In addition, every engagement of Ernst & Young LLP to perform audit or non-audit services on behalf of the Company or any of its subsidiaries requires pre-approval from the Audit Committee before Ernst & Young LLP is engaged to provide those services. As a result, for 2006 and 2005, the Audit Committee approved all services performed by Ernst & Young LLP on behalf of the Company and its subsidiaries.

This excerpt taken from the HDNG DEF 14A filed Mar 28, 2006.
Independent Auditor Information

The Company incurred the following fees for services performed by Ernst & Young LLP in 2005 and 2004:

 

 

2005

 

2004

 

Audit Fees(1) 

 

$

829,759

 

$

915,000

 

Audit Related Fees(2)

 

32,043

 

20,000

 

Tax Fees(3)

 

100,768

 

24,000

 

All Other Fees(4)

 

-0-

 

-0-

 

Total

 

$

962,570

 

$

959,000

 


 

(1)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for professional services rendered for the audit of the Company’s annual financial statements for each of the years ended December 31, 2005 and 2004 and for review of the financial statements included in the Company’s Quarterly Reports on Form 10-Q for each of those years. The amount also includes $361k and $525k for fees billed for the audit of internal control over financial reporting required by Section 404 of the Sarbanes-Oxley Act of 2002.

(2)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for assurance and related services reasonably related to the performance of the audit or review of the Company’s financial statements for each of the years ended December 31, 2005 and 2004, and not included in the Audit Fees listed above. These services include audits of the Company’s employee benefit plans or consultations in connection with acquisitions.

(3)          Consists of aggregate fees billed or expected to be billed by Ernst & Young LLP for tax compliance, tax advice and tax planning for each of the fiscal years ended December 31, 2005 and 2004. These

18




services included tax return preparation, and other U.S. and non-U.S. tax advisory and tax compliance services.

(4)          There were no other fees billed to the Company by Ernst & Young LLP for products and services other than as set forth above for the years ended December 31, 2005 or 2004.

The Audit Committee has the sole and direct authority to engage, appoint and replace other independent auditors. In addition, every engagement of Ernst & Young LLP to perform audit or non-audit services on behalf of the Company or any of its subsidiaries requires pre-approval from the Audit Committee before Ernst & Young LLP is engaged to provide those services. As a result, for 2005, the Audit Committee approved all services performed by Ernst & Young LLC on behalf of the Company and its subsidiaries.

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