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LYV » Topics » Audit and Non-Audit Fees

These excerpts taken from the LYV 10-K filed Apr 30, 2009.

Audit and Non-Audit Fees

The following table shows the fees paid or accrued (in thousands) by us for audit and other services provided by Ernst & Young LLP for the 2008 and 2007 fiscal years, respectively:

 

     2008    2007

Audit Fees (1)

    $ 6,759    $ 5,893

Audit-Related Fees (2)

    $ 434    $ 1,097

Tax Fees (3)

    $ 592    $ 404

All Other Fees (4)

    $ —      $ —  
             

Total

    $ 7,785    $ 7,394

 

(1) Audit fees consist of fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting, reviews of our financial statements included in our quarterly reports on Form 10-Q, reviews of our other SEC filings and other professional services provided in connection with statutory and regulatory filings.
(2) Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of our financial statements and which are not reported above under “Audit Fees.” In 2008, these services primarily related to attest services in connection with a divestiture, gross receipts audits as required by leases and due diligence services.
(3) Tax fees consist of fees for tax advice and tax return preparation.
(4) There were no other professional services rendered by Ernst & Young LLP in 2008 or 2007.

The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young LLP’s independence.

Audit and Non-Audit
Fees

The following table shows the fees paid or accrued (in thousands) by us for audit and other services provided by Ernst &
Young LLP for the 2008 and 2007 fiscal years, respectively:

 


































































   2008  2007

Audit Fees (1)

  $6,759  $5,893

Audit-Related Fees (2)

  $434  $1,097

Tax Fees (3)

  $592  $404

All Other Fees (4)

  $—    $—  
        

Total

  $7,785  $7,394

 





(1)Audit fees consist of fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting, reviews of our financial statements
included in our quarterly reports on Form 10-Q, reviews of our other SEC filings and other professional services provided in connection with statutory and regulatory filings.




(2)Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of our financial statements and which
are not reported above under “Audit Fees.” In 2008, these services primarily related to attest services in connection with a divestiture, gross receipts audits as required by leases and due diligence services.




(3)Tax fees consist of fees for tax advice and tax return preparation.




(4)There were no other professional services rendered by Ernst & Young LLP in 2008 or 2007.
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young
LLP’s independence.

Audit Committee Policy Regarding Pre-Approval of Audit and Permissible Non-Audit Services of our Independent Auditors

The Audit Committee has established procedures for the approval of all audit and non-audit services provided by our independent registered
public accounting firm. Pursuant to this policy, the Audit Committee approves all audit and non-audit services provided by the independent registered public accounting firm, including the fees and other terms of the engagements. Before the
independent registered public accounting firm is engaged to perform any non-audit services, the Audit Committee must review and pre-approve such services. The Audit Committee may delegate its approval authority to its Chairperson, provided that any
services approved by the Chairperson are reported to the Audit Committee at its next regularly scheduled meeting.

The Audit Committee
approved all of the audit and permissible non-audit services performed by Ernst & Young LLP during the 2008 fiscal year.

SIZE="2">PART IV

 





Item 15.Exhibits, Financial Statement Schedules.

SIZE="2">(a)(1) All financial statements. The information required by this item is incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

(a)(2) Financial statement schedules. All financial statement schedules are omitted because the required information is
incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

FACE="Times New Roman" SIZE="2">(a)(3) Exhibits. The following exhibits are filed as a part of this report or are incorporated by reference to exhibits previously filed.

SIZE="1"> 


34






Table of Contents


Audit and Non-Audit
Fees

The following table shows the fees paid or accrued (in thousands) by us for audit and other services provided by Ernst &
Young LLP for the 2008 and 2007 fiscal years, respectively:

 


































































   2008  2007

Audit Fees (1)

  $6,759  $5,893

Audit-Related Fees (2)

  $434  $1,097

Tax Fees (3)

  $592  $404

All Other Fees (4)

  $—    $—  
        

Total

  $7,785  $7,394

 





(1)Audit fees consist of fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting, reviews of our financial statements
included in our quarterly reports on Form 10-Q, reviews of our other SEC filings and other professional services provided in connection with statutory and regulatory filings.




(2)Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of our financial statements and which
are not reported above under “Audit Fees.” In 2008, these services primarily related to attest services in connection with a divestiture, gross receipts audits as required by leases and due diligence services.




(3)Tax fees consist of fees for tax advice and tax return preparation.




(4)There were no other professional services rendered by Ernst & Young LLP in 2008 or 2007.
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young
LLP’s independence.

Audit Committee Policy Regarding Pre-Approval of Audit and Permissible Non-Audit Services of our Independent Auditors

The Audit Committee has established procedures for the approval of all audit and non-audit services provided by our independent registered
public accounting firm. Pursuant to this policy, the Audit Committee approves all audit and non-audit services provided by the independent registered public accounting firm, including the fees and other terms of the engagements. Before the
independent registered public accounting firm is engaged to perform any non-audit services, the Audit Committee must review and pre-approve such services. The Audit Committee may delegate its approval authority to its Chairperson, provided that any
services approved by the Chairperson are reported to the Audit Committee at its next regularly scheduled meeting.

The Audit Committee
approved all of the audit and permissible non-audit services performed by Ernst & Young LLP during the 2008 fiscal year.

SIZE="2">PART IV

 





Item 15.Exhibits, Financial Statement Schedules.

SIZE="2">(a)(1) All financial statements. The information required by this item is incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

(a)(2) Financial statement schedules. All financial statement schedules are omitted because the required information is
incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

FACE="Times New Roman" SIZE="2">(a)(3) Exhibits. The following exhibits are filed as a part of this report or are incorporated by reference to exhibits previously filed.

SIZE="1"> 


34






Table of Contents


Audit and Non-Audit
Fees

The following table shows the fees paid or accrued (in thousands) by us for audit and other services provided by Ernst &
Young LLP for the 2008 and 2007 fiscal years, respectively:

 


































































   2008  2007

Audit Fees (1)

  $6,759  $5,893

Audit-Related Fees (2)

  $434  $1,097

Tax Fees (3)

  $592  $404

All Other Fees (4)

  $—    $—  
        

Total

  $7,785  $7,394

 





(1)Audit fees consist of fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting, reviews of our financial statements
included in our quarterly reports on Form 10-Q, reviews of our other SEC filings and other professional services provided in connection with statutory and regulatory filings.




(2)Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of our financial statements and which
are not reported above under “Audit Fees.” In 2008, these services primarily related to attest services in connection with a divestiture, gross receipts audits as required by leases and due diligence services.




(3)Tax fees consist of fees for tax advice and tax return preparation.




(4)There were no other professional services rendered by Ernst & Young LLP in 2008 or 2007.
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young
LLP’s independence.

Audit Committee Policy Regarding Pre-Approval of Audit and Permissible Non-Audit Services of our Independent Auditors

The Audit Committee has established procedures for the approval of all audit and non-audit services provided by our independent registered
public accounting firm. Pursuant to this policy, the Audit Committee approves all audit and non-audit services provided by the independent registered public accounting firm, including the fees and other terms of the engagements. Before the
independent registered public accounting firm is engaged to perform any non-audit services, the Audit Committee must review and pre-approve such services. The Audit Committee may delegate its approval authority to its Chairperson, provided that any
services approved by the Chairperson are reported to the Audit Committee at its next regularly scheduled meeting.

The Audit Committee
approved all of the audit and permissible non-audit services performed by Ernst & Young LLP during the 2008 fiscal year.

SIZE="2">PART IV

 





Item 15.Exhibits, Financial Statement Schedules.

SIZE="2">(a)(1) All financial statements. The information required by this item is incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

(a)(2) Financial statement schedules. All financial statement schedules are omitted because the required information is
incorporated herein by reference to the financial statements and notes thereto listed in Item 8 of Part II of the Original Form 10-K.

FACE="Times New Roman" SIZE="2">(a)(3) Exhibits. The following exhibits are filed as a part of this report or are incorporated by reference to exhibits previously filed.

SIZE="1"> 


34






Table of Contents


This excerpt taken from the LYV DEF 14A filed Apr 29, 2008.

Audit and Non-Audit Fees

The following table shows the fees paid or accrued (in thousands) by us for audit and other services provided by Ernst & Young LLP for the 2007 and 2006 fiscal years, respectively:

 

     2007    2006

Audit Fees (1)

    $ 5,893    $ 4,959

Audit-Related Fees (2)

    $ 1,097    $ 336

Tax Fees (3)

    $ 404    $ 297

All Other Fees (4)

      —        —  

Total

    $ 7,394    $ 5,592

 

(1) Audit fees consist of fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting, reviews of our financial statements included in our quarterly reports on Form 10-Q, reviews of our other SEC filings and other professional services provided in connection with statutory and regulatory filings.
(2) Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of our financial statements and which are not reported above under “Audit Fees.” In 2007, these services primarily related to attest services in connection with a divestiture and a convertible debt issuance, gross receipts audits as required by leases and due diligence services.
(3) Tax fees consist of fees for tax advice and tax return preparation.
(4) There were no other professional services rendered by Ernst & Young LLP in 2007 or 2006.

The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young LLP’s independence.

 

20

Table of Contents

The Audit Committee has established procedures for the approval of all audit and non-audit services provided by our independent registered public accounting firm. Pursuant to this policy, the Audit Committee approves all audit and non-audit services provided by the independent registered public accounting firm, including the fees and other terms of the engagements. Before the independent registered public accounting firm is engaged to perform any non-audit services, the Audit Committee must review and pre-approve such services. The Audit Committee may delegate its approval authority to its Chairperson, provided that any services approved by the Chairperson are reported to the Audit Committee at its next regularly scheduled meeting.

The Audit Committee approved all of the audit and permissible non-audit services performed by Ernst & Young LLP during the 2007 fiscal year.

 

21

Table of Contents
This excerpt taken from the LYV DEF 14A filed Apr 4, 2007.

Audit and Non-Audit Fees

The following table shows the fees paid or accrued (in thousands) by Live Nation for audit and other services provided by Ernst & Young LLP for the 2006 and 2005 fiscal years, respectively:

 

     2006    2005

Audit Fees (1)

    $ 4,959    $ 1,964

Audit-Related Fees (2)

    $ 336      —  

Tax Fees (3)

    $ 297      —  

All Other Fees (4)

      —        —  

Total

    $ 5,592    $ 1,964
(1) Audit fees consist of fees for the audit of Live Nation’s annual financial statements, the audit of its internal controls over financial reporting, reviews of its financial statements included in quarterly reports on Form 10-Q, reviews of other SEC filings and other professional services provided in connection with statutory and regulatory filings. During 2005, Clear Channel Communications, Inc. paid $0.7 million of audit fees related to Live Nation’s 2005 audit which are not included above. In 2005, there was no audit of internal control over financial reporting, as 2006 was Live Nation’s first full year as a public company.
(2) Audit-related fees consist of fees for assurance and related services that are reasonably related to the performance of the audit and review of Live Nation’s financial statements and which are not reported above under “Audit Fees.” In 2006, these services primarily related to gross receipts audits as required by leases and due diligence services.
(3) Tax fees consist of fees for tax advice and tax return preparation.
(4) There were no other professional services rendered by Ernst & Young LLP in 2006 or 2005.

 

29

Table of Contents

The Audit Committee has determined that the provision of the non-audit services listed above is compatible with maintaining Ernst & Young LLP’s independence.

The Audit Committee has established procedures for the approval of all audit and non-audit services provided by Live Nation’s independent registered public accounting firm. Pursuant to this policy, the Audit Committee approves all audit and non-audit services provided by the independent registered public accounting firm, including the fees and other terms of the engagements. Before the independent registered public accounting firm is engaged to perform any non-audit services, the Audit Committee must review and pre-approve such services. The Audit Committee may delegate its approval authority to its Chairperson, provided that any services approved by the Chairperson are reported to the Audit Committee at its next regularly scheduled meeting.

The Audit Committee approved all of the audit and permissible non-audit services performed by Ernst & Young LLP during the 2006 fiscal year.

 

30

Table of Contents

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Apr 30, 2009
DEF 14A
Apr 29, 2008
DEF 14A
Apr 4, 2007

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