PMC » Topics » Independent Registered Public Accounting Firm Fees

This excerpt taken from the PMC DEF 14A filed Apr 30, 2009.

Independent Registered Public Accounting Firm Fees

In connection with the audit of the 2008 financial statements, the Company entered into an engagement letter with PwC which set forth the terms by which PwC has performed audit services to the Company.

The aggregate fees billed by PwC for professional services for 2007 and 2008 were as follows:


Description of Fees

   2007    2008

Audit Fees (1)

   $ 1,060,684    $ 1,029,908

Audit—Related Fees (2)

     570,276      —  

Tax Fees

     —        —  

All Other Fees (3)

     1,500      40,056


   $ 1,632,460    $ 1,069,964



Table of Contents


(1) Annual audit fees include fees for the audit of our annual financial statements, the audit of our internal controls over financial reporting (2008 only), and the review of our financial information included in our Form 10-Q filings. For 2007, the fees also include fees incurred for services performed in connection with the acquisition of PharMerica Long-Term Care on July 31, 2007.


(2) Fees for audit-related services were principally related to due-diligence associated with the acquisition of PharMerica Long-Term Care on July 31, 2007.


(3) For 2007, all other fees were related to rights of the Company to utilize a research tool offered by PwC. For 2008, all other fees were related to procedures performed by PwC for compliance with the Corporate Integrity Agreement dated March 29, 2005 between PharMerica Long-Term Care and the Office of Inspector General within the Department of Health and Human Services.
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