This excerpt taken from the PTRY DEF 14A filed Jan 27, 2006.
Principal Accountant Fees and Services
During fiscal year 2005, we retained Deloitte & Touche LLP to provide services in the following categories and amounts:
Audit Fees. This category includes the aggregate fees billed for professional services rendered for the audits of our consolidated financial statements for fiscal years 2005 and 2004, respectively, for the reviews of the financial statements included in each of our Quarterly Reports on Form 10-Q during fiscal 2005 and 2004, and for services that are normally provided by the independent public accountants in connection with statutory and regulatory filings or engagements for the relevant fiscal years. For fiscal 2005, this category includes $774,706 for the attestation report on managements assessment of our companys internal control over financial reporting under Section 404 of the Sarbanes Oxley Act of 2002.
Audit-Related Fees. This category includes the aggregate fees billed in each of the last two fiscal years for assurance and related services by the independent public accountants that are reasonably related to the performance of the audits or reviews of the financial statements and are not reported above under Audit Fees, and generally consist of fees for accounting consultation, services associated with financing activities and audits of employee benefit plans.
Tax Fees. This category includes the aggregate fees billed in each of the last two fiscal years for professional services rendered by the independent public accountants for tax compliance, tax planning and tax advice. Fees for tax compliance services totaled $246,230 and $341,416 in 2005 and 2004, respectively. Tax compliance services consisted of assistance with (i) federal, state and local income tax returns, (ii) requests for technical advice from taxing authorities, (iii) tax audits and appeals, and (iv) property tax returns.
Fees for tax planning and advice services totaled $95,993 and $73,190 in 2005 and 2004, respectively. Tax planning and advice consisted of tax advice related to structuring certain proposed mergers, acquisitions and disposals, income tax forecasting, trade discounts and analysis of ownership under Internal Revenue Code Section 382.
All Other Fees. This category includes the aggregate fees billed in each of the last two fiscal years for products and services provided by the independent public accountants that are not reported above under Audit Fees, Audit-Related Fees, or Tax Fees.
The audit committee has considered the compatibility of the non-audit services performed by and fees paid to Deloitte & Touche LLP in fiscal 2005 and determined that such services and fees were compatible with the independence of the public accountants. During fiscal 2005, Deloitte & Touche LLP did not utilize any personnel in connection with the audit other than its full-time, permanent employees.
Policy for Approval of Audit and Non-audit Services. The audit committee has adopted, and the board of directors has ratified, an Interim Policy Regarding the Approval of Audit and Non-audit Services Provided by the Independent Auditor (the Approval Policy), which describes the procedures and the conditions pursuant to which the audit committee may grant general pre-approval for services proposed to be performed by our independent public accountants.
All services provided by our independent public accountants, both audit and non-audit, must be pre-approved by the audit committee. The audit committee may delegate to one or more designated member(s) of the audit committee, who satisfies the definition of independent director under Nasdaq Marketplace Rules (the Designated Member), the authority to grant pre-approvals of permitted services (which are defined as those that are not specifically prohibited by the Approval Policy), or classes of permitted services, to be provided by the independent public accountants. The Approval Policy describes the types of classes of permitted services (e.g., annual audit services or tax consulting services) that may be pre-approved by the audit committee or a Designated Member. The pre-approval of audit and non-audit services may be given at any time up to a year before commencement of the specified service. The decisions of the Designated Member to pre-approve a permitted service are required to be reported to the audit committee at its regularly scheduled meetings.
In determining whether to approve a particular audit or permitted non-audit service, the audit committee (or the Designated Member) will consider, among other things, whether such service is consistent with maintaining the independence of the independent public accountant. The audit committee (or the Designated Member) will also consider whether the independent public accountant is best positioned to provide the most effective and efficient service to our company and whether the service might be expected to enhance our ability to manage or control risk or improve audit quality.
This excerpt taken from the PTRY 10-K filed Aug 31, 2005.
This information is incorporated by reference from the section entitled Principal Accountant Fees and Services in our definitive proxy statement to be filed with respect to the Annual Meeting of Stockholders to be held March 29, 2005.