This excerpt taken from the LGCY 10-K filed Mar 29, 2007.
Please read Item 10 Directors and Executive Officers and Corporate Governance Director Independence above for information about the independence of our general partners board of directors and its committees, which information is incorporated herein by reference.
The Audit Committee had not, as of the time of filing this annual report on Form 10-K with the Securities and Exchange Commission, adopted policies and procedures for pre-approving audit or permissible non-audit services performed by our independent auditors. Instead, the Audit Committee as a whole has pre-approved all such services. In the future, our Audit Committee may approve the services of our independent auditors pursuant to pre-approval policies and procedures adopted by the Audit Committee, provided the policies and procedures are detailed as to the particular service, the Audit Committee is informed of each service, and such policies and procedures do not include delegation of the Audit Committees responsibilities to our management.
The aggregate fees for professional services rendered by our principal accountants, BDO Seidman, LLP, for 2005 and 2006 were:
In the above table, audit fees are fees we paid for professional services for the audit of our Consolidated Financial Statements included in our annual report on Form 10-K or for services that are normally provided by our principal accountants in connection with statutory and regulatory filings or engagements and fees for Sarbanes-Oxley 404 audit work. Audit-related fees are fees billed for assurance and related services in connection with acquisition transactions and related regulatory filings. The fees shown in the table above represent services rendered to Legacy Reserves LP subsequent to the Formation Transaction on March 15, 2006. Fees for services to the Moriah Group, the Brothers Group or H2K Holdings are not included in the table above since such services were rendered prior to the Legacy Formation on March 15, 2006.