Energy Transfer 2010 Annual Report Download - page 118

We have a shared services agreement in which we provide various general and administrative services for ETE.
See discussion in Note 12 to our consolidated financial statements.
We have an operating lease agreement with the former owners of Energy Transfer Group, L.L.C., which we
acquired in 2009. These former owners include Mr. Warren and Mr. Davis. See discussion in Note 12 to our
consolidated financial statements.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
The following sets forth fees billed by Grant Thornton LLP for the audit of our annual financial statements and
other services rendered:
Years Ended December 31,
2010 2009
Audit fees (1) $ 2,125,795 $ 2,421,000
Audit related fees — —
Tax fees — —
All other fees — —
Total $ 2,125,795 $ 2,421,000
(1) Includes fees for audits of annual financial statements of our companies, reviews of the related quarterly
financial statements, and services that are normally provided by the independent accountants in connection
with statutory and regulatory filings or engagements, including reviews of documents filed with the SEC and
services related to the audit of our internal control over financial reporting.
Pursuant to the charter of the Audit Committee, the Audit Committee is responsible for the oversight of our
accounting, reporting and financial practices. The Audit Committee has the responsibility to select, appoint,
engage, oversee, retain, evaluate and terminate our external auditors; pre-approve all audit and non-audit services
to be provided, consistent with all applicable laws, to us by our external auditors; and establish the fees and other
compensation to be paid to our external auditors. The Audit Committee also oversees and directs our internal
auditing program and reviews our internal controls.
The Audit Committee has adopted a policy for the pre-approval of audit and permitted non-audit services
provided by our principal independent accountants. The policy requires that all services provided by Grant
Thornton LLP, including audit services, audit-related services, tax services and other services, must be
pre-approved by the Audit Committee.
The Audit Committee reviews the external auditors’ proposed scope and approach as well as the performance of
the external auditors. It also has direct responsibility for and sole authority to resolve any disagreements between
our management and our external auditors regarding financial reporting, regularly reviews with the external
auditors any problems or difficulties the auditors encountered in the course of their audit work, and, at least
annually, uses its reasonable efforts to obtain and review a report from the external auditors addressing the
following (among other items):
• the auditors’ internal quality-control procedures;
• any material issues raised by the most recent internal quality-control review, or peer review, of the external
auditors;
• the independence of the external auditors;
• the aggregate fees billed by our external auditors for each of the previous two years; and
• the rotation of the lead partner.
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