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SPECTRUM BRANDS | 2006 ANNUAL REPORT 59
ITEM 14. PRINCIPAL ACCOUNTING
FEES AND SERVICES
The following table summarizes the fees KPMG LLP, our
independent registered public accounting fi rm, billed to us for
each of the last two fi scal years (in millions):
Audit- All
Audit Fees Related Fees Tax Fees Other Fees
2006 $4.7 $ – $0.1 $ –
2005 $4.8 $0.5 $0.1 $ –
In the above table, in accordance with the SEC’s defi nitions
and rules, “Audit Fees” are fees we paid KPMG LLP for profes-
sional services for the audit of our consolidated fi nancial state-
ments included in our Form 10-K and the review of our fi nancial
statements included in Form 10-Qs or services that are normally
provided by the accountant in connection with statutory and reg-
ulatory fi lings or engagements, such as statutory audits required
for certain of our foreign subsidiaries. “Audit-Related Fees” are
fees for assurance and related services that are reasonably related
to the performance of the audit or review of our fi nancial state-
ments. The majority of Audit-Related Fees in 2005 were attribut-
able to due diligence services related to acquisitions and advice
related to the implementation of Section 404 of the Sarbanes-
Oxley Act of 2002. “Tax Fees” are fees for tax compliance, tax
advice and tax planning, and for both fi scal 2006 and fi scal 2005
such fees were attributable to services for tax-compliance assis-
tance and tax advice. “All Other Fees” are fees, if any, for any ser-
vices not included in the fi rst three categories.
Pre-Approval of Independent Auditor
Services and Fees
The Audit Committee pre-approved the fi scal 2006 audit ser-
vices engagement performed by KPMG LLP. In accordance with
the Audit Committee’s Pre-Approval Policy, the Audit Committee
has pre-approved other specifi ed audit, non-audit, tax and other
services, provided that the fees incurred by KPMG LLP in con-
nection with any individual non-due diligence engagement do
not exceed $100,000 in any 12-month period. The Audit
Committee must approve on an engagement by engagement
basis any individual non-due diligence engagement in excess of
$100,000 in any 12-month period or any individual engagement
to perform due diligence services pertaining to potential busi-
ness acquisitions/dispositions and other transactions and events
in excess of $1,000,000 in any 12-month period. The Audit
Committee has delegated to its Chairman the authority to pre-
approve any other specifi c audit or specifi c non-audit service
which was not previously pre-approved by the Audit Committee,
provided that any decision of the Chairman to pre-approve other
audit or non-audit services shall be presented to the Audit
Committee at its next scheduled meeting.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.