MOLX » Topics » Independent Auditors Fees

This excerpt taken from the MOLX DEF 14A filed Sep 10, 2009.
Independent Auditors’ Fees
 
The following table presents fees for professional audit services rendered by Molex’s independent auditors, Ernst & Young, for the audit of Molex’s annual financial statements for FY09 and FY08, and fees billed for other services rendered by the independent auditors during those periods.
 
                 
    FY09     FY08  
 
Audit Fees (1)
  $ 3,407,131     $ 3,529,439  
Audit-Related Fees (2)
    246,017       444,981  
Tax Fees (3)
    1,992,461       1,277,292  
All Other Fees
    0       0  
                 
Total
  $ 5,645,609     $ 5,251,712  
                 
 
(1) Audit fees were principally for audit work performed on the consolidated financial statements and internal control over financial reporting, as well as work generally only the independent auditors can reasonably be expected to provide, such as statutory audit services.
 
(2) Audit-related fees were principally for consultations as to the accounting or disclosure treatment of transactions or events, services related to post-acquisition reviews, royalty audits and local grant audits, preliminary due diligence pertaining to potential business acquisitions/dispositions and financial statement audits of employee benefit plans.
 
(3) Tax fees were principally for services related to domestic and international tax compliance and reporting, including services related to expatriate tax compliance.
 
Independent Auditors’ Fees
 
The following table presents fees for professional audit services rendered by Molex’s independent auditors for the audit of Molex’s annual financial statements for FY08 and FY07, and fees billed for other services rendered by the independent auditors during those periods.
 
                 
    FY08     FY07  
 
Audit Fees (1)
    $3,529,439       $3,712,018  
Audit-Related Fees (2)
    $444,981       $524,469  
Tax Fees (3)
    $1,277,292       $931,879  
All Other Fees (4)
    -       $17,405  
                 
Total
    $5,251,712       $5,185,771  
 
(1) Audit Fees were principally for audit work performed on the consolidated financial statements and internal control over financial reporting, as well as work generally only the independent auditors can reasonably be expected to provide, such as statutory audit services.
 
(2) Audit-related fees were principally for consultations as to the accounting or disclosure treatment of transactions or events, services related to post-acquisition reviews, royalty audits and local grant audits, preliminary due diligence pertaining to potential business acquisitions/dispositions and financial statement audits of employee benefit plans. The FY07 fees include services provided by E&Y relating to the review of our past stock option granting practices.
 
(3) Tax fees were principally for services related to domestic and international tax compliance and reporting, including services related to expatriate tax compliance.
 
(4) During FY07, Molex reimbursed E&Y for its reasonable costs incurred in responding to discovery subpoena related to the securities litigation in which Molex was involved.
 

Independent Auditors’ Fees

The following table presents fees for professional audit services rendered by Molex’s independent auditors for the audit of Molex’s annual financial statements for the years ended June 30, 2007 and June 30, 2006, and fees billed for other services rendered by the independent auditors during those periods.

 

     FY2007    FY2006

Audit Fees (1)

   $3,712,018    $3,138,668

Audit-Related Fees (2)

   $524,469    $75,695

Tax Fees (3)

   $931,879    $824,842

All Other Fees (4)

   $17,405    $43,000
            

Total

   $5,185,771    $4,082,205

 

(1) Audit Fees were principally for audit work performed on the consolidated financial statements and internal control over financial reporting, as well as work generally only the independent auditors can reasonably be expected to provide, such as statutory audit services.

 

(2) Audit-related fees were principally for consultations as to the accounting or disclosure treatment of transactions or events, services related to post-acquisition reviews, royalty audits and local grant audits, preliminary due diligence pertaining to potential business acquisitions/dispositions and financial statement audits of employee benefit plans. The fiscal year 2007 fees include services provided by E&Y relating to our review of our past stock option practices.

 

(3) Tax fees were principally for services related to domestic and international tax compliance and reporting, including services related to expatriate tax compliance.

 

(4) During fiscal years 2006 and 2007, Molex reimbursed E&Y for its reasonable costs incurred in responding to discovery subpoena related to the securities litigation in which Molex was involved.
This excerpt taken from the MOLX DEF 14A filed Sep 13, 2006.

Independent Auditors’ Fees

The following table presents fees for professional audit services rendered by Molex’s independent auditors for the audit of Molex’s annual financial statements for the years ended June 30, 2005 and June 30, 2006, and fees billed for other services rendered by the independent auditors during those periods. Deloitte served as Molex’s independent auditors for part of the year ended June 30, 2005. Deloitte resigned as Molex’s independent auditors on November 13, 2004, and Molex engaged E&Y on December 9, 2004.

  FY2006 FY2005
  E&Y     E&Y     Deloitte
Audit Fees (1)  $ 3,138,668   $ 6,836,969   $ 238,500
Audit-Related Fees (2)  $      75,695 - $   18,250
Tax Fees (3)      $    824,842 $      17,806 $ 103,636
All Other Fees (4)  $      43,000 - -
Total  $ 4,082,205 $ 6,854,775 $ 360,386

(1)      

Audit Fees were principally for audit work performed on the consolidated financial statements and internal control over financial reporting, as well as work generally only the independent auditors can reasonably be expected to provide, such as statutory audit services. For FY2005, the fees paid to E&Y include fees for their audit of the financial statements for fiscal year 2003, 2004 and 2005. The audit fees for fiscal year 2005 alone were $3,686,969.

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(2)      

Audit-related fees were principally for consultations as to the accounting or disclosure treatment of transactions or events, services related to post-acquisition reviews, royalty audits and local grant audits, preliminary due diligence pertaining to potential business acquisitions/dispositions and financial statement audits of employee benefit plans.

 
(3)      

Tax fees were principally for services related to domestic and international tax compliance and reporting, including services related to expatriate tax compliance, and assistance with Molex’s computation of foreign sales and leasing income.

 
(4)      

Molex generally does not engage its independent auditors for “other” services. During fiscal year 2006, Molex reimbursed E&Y for its reasonable costs incurred in responding to discovery subpoena related to the securities litigation in which Molex is involved.

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