SCUR » Topics » RELATIONSHIP WITH INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

This excerpt taken from the SCUR DEF 14A filed Apr 3, 2008.

RELATIONSHIP WITH INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

Ernst & Young LLP has been the independent registered public accounting firm that audits the financial statements of the Company since 1991. In accordance with standing policy, Ernst & Young LLP periodically changes the personnel who work on the audit.

 

In addition to performing the audit of the Company’s consolidated financial statements, Ernst & Young LLP provided various other services during 2007 and 2006. These non-audit services were approved by the Audit Committee by unanimous consent. The aggregate fees billed for 2007 and 2006 for each of the following categories of services are set forth below:

 

Fee Category

   Fiscal
2007 Fees
   Fiscal
2006 Fees

Audit Fees(1)

   $ 779,750    $ 856,000

Audit-Related Fees(2)

     7,500      269,200

Tax Fees(3)

     9,000      —  
             

Total Fees

   $ 796,250    $ 1,125,200
             

 

(1)   Audit fees represent fees for professional services provided in connection with the audit of our financial statements, audit of our internal controls, and review of our quarterly financial statements and audit services provided in connection with other statutory or regulatory filings.
(2)   In 2007 audit-related fees consisted of EYOnline annual fees (Ernst & Young’s on-line accounting research tool). In 2006 audit-related fees consisted of EYOnline annual fees of $6,000 and acquisition related due diligence fees of $263,200.
(3)   For fiscal 2007, tax fees included foreign tax compliance fees.

 

The Audit Committee has delegated to the Chairman of the Audit Committee the authority to pre-approve audit-related and non-audit services not prohibited by law to be performed by the Company’s independent registered public accounting firm, provided that the Chairman shall report any decisions to pre-approve such audit-related or non-audit services and fees to the full Audit Committee at its next scheduled meeting.

 

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