Telus 2005 Annual Report Download - page 47

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46
Audit, Audit related and non-audit services
All requests for non-prohibited audit, audit related and non-audit services provided by TELUS’
external auditor and its affiliates to TELUS are required to be pre-approved by the Audit
Committee of TELUS’ Board of Directors. To enable this, TELUS has implemented a process
by which all requests for services involving the External Auditor are routed for review by the VP
Risk Management and Chief Internal Auditor to validate that the requested service is a non-
prohibited service and to verify that there is a compelling business reason for the request. If the
request passes this review, it is then forwarded to the CFO for further review. Pending the
CFO’s affirmation, the request is then presented to the Audit Committee for its review,
evaluation and pre-approval or denial at its next scheduled quarterly meeting. If the timing of
the request is urgent, it is provided to the Audit Committee Chair for his review, evaluation and
pre-approval or denial on behalf of the Audit Committee (with the full committee’s review at the
next scheduled quarterly meeting). Throughout the year, the Audit Committee monitors the
actual versus approved expenditure for each of the approved requests.
The following table is a summary of billing by Deloitte & Touche, LLP, as external auditors of
TELUS, during the period from January 1, 2005 to December 31, 2005:
Type of work
Deloitte & Touche Total Fees %
Audit fees $2,237,606 $2,237,606 90.7
Audit-related fees $195,584 $195,584 7.9
Tax fees $33,180 $33,180 1.4
All other fees -- -- --
Total $2,466,760 $2,466,760
100.0
The following table is a summary of billing by Deloitte & Touche, LLP, as external auditors of
TELUS, during the period from January 1, 2004 to December 31, 2004:
Type of work
Deloitte & Touche Total Fees %
Audit fees $2,102,260 $2,102,260 79.5
Audit-related fees $313,325 $313,325 11.8
Tax fees $231,278 $231,278 8.7
All other fees -- -- --
Total $2,646,863 $2,646,863
100.0
(1) Fees to Deloitte Consulting were paid pursuant to contracts entered into before Deloitte and
Touche LLP became the auditors of the Company in 2002, and were for systems integration
services.
MATERIAL CONTRACTS
On July 19, 2002, TCI entered into a Purchase and Servicing Agreement with an arm’s-length
securitization receivables trust which enables TCI to sell an interest in certain of its receivables
up to a maximum of $650 million. This revolving period securitization has an initial term ending