Big Lots 2012 Annual Report Download - page 74

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- 60 -
Audit and Non-Audit Services Pre-Approval Policy
Pursuant to the Audit Committee’s Audit and Non-Audit Services Pre-Approval Policy, all audit and non-audit
services rendered by Deloitte & Touche LLP in fiscal 2012, including the related fees, were pre-approved by the
Audit Committee. Under the policy, the Audit Committee is required to pre-approve all audit and permissible non-
audit services performed by the independent registered public accounting firm to assure that the provision of those
services does not impair the firm’s independence. Pre-approval is detailed as to the particular service or category
of service and is subject to a specific engagement authorization. The Audit Committee requires the independent
registered public accounting firm and management to report on the actual fees incurred for each category of
service at Audit Committee meetings throughout the year.
During the year, it may become necessary to engage the independent registered public accounting firm for
additional services that have not been pre-approved. In those instances, the Audit Committee requires specific pre-
approval before engaging the independent registered public accounting firm. The Audit Committee may delegate
pre-approval authority to one or more of its members for those instances when pre-approval is needed prior to a
scheduled Audit Committee meeting. The member or members to whom pre-approval authority is delegated must
report any pre-approval decisions to the Audit Committee at its next scheduled meeting.
Fees Paid to Independent Registered Public Accounting Firm
The fees billed to us for the professional services rendered by Deloitte & Touche LLP during the two most recently
completed fiscal years were as follows:
($ in thousands)
Fiscal 2011
($)
Fiscal 2012
($)
Audit Fees 1,151 1,278
Audit-Related Fees (1) 18 33
Tax Fees (2) 172 102
All Other Fees (3) 22
Total Fees 1,343 1,415
(1) For fiscal 2011 and fiscal 2012, the audit-related fees principally related to accounting consultation.
(2) For fiscal 2011, the tax fees principally related to tax compliance services and statements of work related to
our foreign acquisition. For fiscal 2012, the tax fees principally related to tax compliance services.
(3) For fiscal 2011 and fiscal 2012, the other fees principally related to online subscription fees for technical
accounting support.
Audit Committee Report
The Audit Committee has reviewed and discussed the audited financial statements for fiscal 2012 with
management and the independent registered public accounting firm. The Audit Committee has discussed
with the independent registered public accounting firm the matters required to be discussed by the Statement
on Auditing Standards No. 61, as amended, as adopted by the Public Company Accounting Oversight Board
Rule 3200T. The Audit Committee has received the written disclosures and the letter from the independent
registered public accounting firm required by applicable requirements of the Public Company Accounting
Oversight Board regarding the independent registered public accounting firm’s communications with the Audit
Committee concerning independence, and has discussed with the independent registered public accounting firm
its independence. Based on these reviews and discussions, the undersigned members of the Audit Committee
recommended to the Board that the audited consolidated financial statements for fiscal 2012 be included in our
Form 10-K for filing with the SEC.
Members of the Audit Committee
Philip E. Mallott, Chair
James R. Chambers
Peter J. Hayes