Yahoo 2007 Annual Report Download - page 148

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• The Board also reviewed certain other relationships relevant to determining board member independence.
Mr. Bostock is a director and the current Chairman of the Board of Northwest Airlines Corporation, and
Mr. Wilson is a former director and Chairman of the Board of Northwest Airlines Corporation. Each of
Messrs. Wilson and Bostock serves as a member of the board of visitors of the Fuqua School of Business at
Duke University and on the advisory board of Neospire Corporation. Mr. Bostock’s son-in-law is a
managing director of Morgan Stanley’s asset management division. Messrs. Hippeau and Joshi each has a
daughter that interned at the Company during the summer of 2007. Mr. Kotick served concurrently with
Mr. Semel, the Company’s former Chairman of the Board and Chief Executive Officer, on the Board of
Trustees of the Los Angeles County Museum of Art.
Item 14. Principal Accountant Fees and Services
FEES BILLED FOR SERVICES RENDERED BY PRINCIPAL
REGISTERED PUBLIC ACCOUNTING FIRM
For the fiscal year ended December 31, 2007, PricewaterhouseCoopers LLP, our independent registered public
accounting firm, billed the approximate fees set forth below (in millions):
2007 2006
Audit Fees
(1)
....................................................... $8.0 $7.2
Audit-Related Fees
(2)
................................................. 0.2 0.4
Tax Fees
(3)
........................................................ 1.3 1.2
All Other Fees ...................................................... — —
Total ............................................................. $9.5 $8.8
(1)
Aggregate audit fees consist of fees billed for professional services rendered for the audit of Yahoo!’s consolidated financial statements
and review of the interim condensed consolidated financial statements included in quarterly filings and services that are normally
provided by PricewaterhouseCoopers LLP in connection with statutory and regulatory filings or engagements, except those not required
by statute or regulation.
(2)
Audit-related fees consist of fees billed for assurance and related services that are reasonably related to the performance of the audit or
review of Yahoo!’s consolidated financial statements and are not reported under “Audit Fees.” These services include accounting
consultations and due diligence in connection with mergers and acquisitions, attest services related to financial reporting that are not
required by statute or regulation and consultations concerning financial accounting and reporting standards.
(3)
Tax fees consist of fees billed for professional services related to federal, state and international tax compliance, tax advice, assistance
with tax audits and appeals and advice related to mergers and acquisitions.
The Audit Committee has adopted certain policies and procedures regarding permitted audit and non-audit
services and the annual pre-approval of such services. Each year, the Audit Committee will ratify the types of audit
and non-audit services of which the Company management may wish to avail itself, subject to pre-approval of
specific services. Each year, management and the independent registered public accounting firm will jointly submit
a pre-approval request, which will list each known and/or anticipated audit and non-audit service for the upcoming
calendar year and which will include associated budgeted fees. The Audit Committee will review the requests and
approve a list of annual pre-approved non-audit services. The Audit Committee designated the Audit Committee
Chair (currently Mrs. Wilderotter) to have the authority to pre-approve interim requests for certain additional non-
audit services that were not contained in the annual pre-approval request. The Audit Committee Chair shall approve
or reject any interim non-audit service requests and report any interim service pre-approvals at the following Audit
Committee meeting.
All services provided by PricewaterhouseCoopers LLP during the fiscal year ended December 31, 2007 and
December 31, 2006 were approved by the Audit Committee.
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