This excerpt taken from the TRN DEF 14A filed Apr 1, 2009.
Fees of Independent Registered Public Accounting Firm for Fiscal Years 2008 and 2007
The following table presents fees for professional audit services rendered by Ernst & Young for the audits of the Companys annual financial statements for the years ended December 31, 2008 and 2007, and fees for other services rendered by Ernst & Young during those periods:
Services rendered by Ernst & Young in connection with fees presented above were as follows:
In fiscal years 2008 and 2007, audit fees includes fees associated with the annual audit of the Companys financial statements, the assessment of the Companys internal control over financial reporting as integrated with the annual audit of the Companys financial statements, the quarterly reviews of the financial statements included in the Companys Form 10-Q filings, statutory audits in Mexico and Europe, and consents included in other SEC filings.
Audit-related fees include fees for employee benefit plan audits, use of online research tools, and certain compliance audits.
Tax fees in fiscal years 2008 and 2007 include fees for tax advice, tax planning, and tax return review.
All Other Fees
There were no fees for other services not included above.
The Audit Committee pre-approves all audit and permissible non-audit services provided by Ernst & Young. These services may include audit services, audit-related services, tax services, and other services. The Audit Committee has adopted a policy for the pre-approval of services provided by Ernst & Young. In addition, the Audit Committee also may pre-approve particular services on a case-by-case basis. The Audit Committee has delegated pre-approval authority to the Chair of the Audit Committee. Pursuant to this delegation, the Chair must report any pre-approval decision by him to the Audit Committee at its first meeting after the pre-approval was obtained. Under this policy, pre-approval is generally provided for up to one year, and any pre-approval is detailed as to the particular services or category of services and includes an anticipated budget.