United Airlines 2015 Annual Report Download - page 116

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The Audit Committee of the UAL Board of Directors has adopted a policy on pre-approval of services of the Company’s independent registered public
accounting firm. As a wholly-owned subsidiary of UAL, United’s audit services are determined by UAL. The policy provides that the Audit Committee shall
pre-approve all audit and non-audit services to be provided to UAL and its subsidiaries and affiliates by its independent auditors. The process by which this
is carried out is as follows:
For recurring services, the Audit Committee reviews and pre-approves the independent registered public accounting firm’s annual audit services in
conjunction with the annual appointment of the outside auditors. The reviewed materials include a description of the services along with related fees. The
Audit Committee also reviews and pre-approves other classes of recurring services along with fee thresholds for pre-approved services. In the event that the
additional services are required prior to the next scheduled Audit Committee meeting, pre-approvals of additional services follow the process described
below.
Any requests for audit, audit related, tax and other services not contemplated with the recurring services approval described above must be submitted to the
Audit Committee for specific pre-approval and cannot commence until such approval has been granted. Normally, pre-approval is provided at regularly
scheduled meetings. However, the authority to grant specific pre-approval between meetings, as necessary, has been delegated to the Chair of the Audit
Committee. The Chair must update the Audit Committee at the next regularly scheduled meeting of any services that were granted specific pre-approval.
On a periodic basis, the Audit Committee reviews the status of services and fees incurred year-to-date and a list of newly pre-approved services since its last
regularly scheduled meeting. The Audit Committee has considered whether the 2015 and 2014 non-audit services provided by Ernst & Young LLP, the
Company’s independent registered public accounting firm, are compatible with maintaining auditor independence.
All of the services in 2015 and 2014 under the Audit Fees, Audit Related Fees, Tax Fees and All Other Fees categories below have been approved by the
Audit Committee pursuant to paragraph (c)(7) of Rule 2-01 of Regulation S-X of the Exchange Act.
The aggregate fees billed for professional services rendered by the Company’s independent auditors in 2015 and 2014 are as follows (in thousands):
  
Audit Fees $ 4,193 $ 3,827
Audit Related Fees 98 181
Tax Fees 2,050 560
All Other Fees 5 5
$ 6,346 $ 4,573
Note: UAL and United amounts are the same.
AUDIT FEES
For 2015 and 2014, audit fees consist primarily of the audit and quarterly reviews of the consolidated financial statements and the audit of the effectiveness
of internal control over financial reporting of United Continental Holdings, Inc. and its wholly-owned subsidiaries. Audit fees also include the audit of the
consolidated financial statements of United, employee benefit plan audits, attestation services required by statute or regulation, comfort letters, consents,
assistance with and review of documents filed with the SEC, and accounting and financial reporting consultations and research work necessary to comply
with generally accepted auditing standards.
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Source: United Continental Holdings, Inc., 10-K, February 18, 2016 Powered by Morningstar® Document Research℠
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