Shake Shack 2015 Annual Report Download - page 93

Table of Contents
Item 14. Principal Accounting Fees and Services.
AUDIT FEES
The following table summarizes fees paid or accrued to our independent registered public accounting firm, Ernst & Young LLP ("EY"), in connection with various services for fiscal
2014.
PRE-APPROVAL POLICY
The Audit Committee’s policy is to pre-approve all audit and permissible non-audit services provided by EY. These services may include audit services, audit-
related services, tax
services and all other services. Proposed services may either be pre-approved without consideration of specific case-by-
case services by the Audit Committee or require the specific
pre-approval of the Audit Committee. Unless a type of service has received general pre-approval, it will require specific pre-
approval if it is to be provided by EY. Any proposed
services exceeding pre-approved cost levels or budgeted amounts will also require specific pre-approval.
Pre-
approval fee levels or budgeted amounts for all services to be provided by EY are established annually by the Audit Committee. Any proposed services exceeding these levels or
amounts require specific pre-
approval by the Audit Committee. For each fiscal year, the Audit Committee may determine the appropriate ratio between the total amount of fees for
audit, audit-related and tax services, and the total amount of fees for services classified as all other services.
The Audit Committee may delegate either type of approval authority to one or more of its members. The member to whom such authority is delegated must report, for informational
purposes only, any pre-approval decisions to the Audit Committee at its next scheduled meeting.
The Audit Committee has designated the Chief Financial Officer to monitor the performance of all services provided by EY and to determine whether such services are in compliance
with this policy. The Chief Financial Officer will report to the Audit Committee on a periodic basis the results of its monitoring. Both the Chief Financial Officer and management will
immediately report to the chairperson of the Audit Committee any breach of this policy that comes to the attention of the Chief Financial Officer or any member of management.
All of the services listed in the above table were approved by the Audit Committee.
92
2014
Audit Fees
(1)
$
730,000
Audit-Related fees
(2)
576,455
Tax Fees —
All Other Fees
(3)
2,172
TOTAL
$
1,308,627
(1) Consists of fees for professional services rendered for the audits of our consolidated financial statements for fiscal years 2014, 2013 and 2012 included our Registration Statement on Form S-
1 and
Annual Report on Form 10-K.
(2)
Consists of fees billed for assurance and related services, primarily related to our initial public offering.
(3)
Consists of a software licensing fee for a technical accounting research tool.