US Postal Service 2005 Annual Report Download - page 49

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2005 Annual Report United States Postal Service | 39
Item 11. Executive Compensation
The Postal Service releases information concerning execu-
tive compensation to the extent required by the Freedom
of Information Act (FOIA), 5 United States Code (U.S.C.)
552. Postal Service regulations implementing the FOIA
are located at 39 C.F.R. 265. Information regarding how to
submit a FOIA request can be found on our website
usps.com.
Item 12. Security Ownership of Certain
Beneficial Owners and Management
Related Stockholder Matters
Not applicable to this report.
Item 13. Certain Relationships and
Related Transactions
As discussed in Item 9A, every Postal Service officer,
manager, and employee is required to comply with
the Standards of Ethical Conduct for Employees of the
Executive Branch and by the Supplemental Standards
of Ethical Conduct for Employees of the United States
Postal Service.
Item 14. Principal Accountant Fees
and Services
In 2002, the Board of Governors selected Ernst & Young
LLP as its independent auditor to perform external auditing
services. The competitively awarded five-year contract,
with an option of renewal of up to 36 months, has an
estimated value of $11.7 million. This contract covers the
financial statement audits for fiscal years 2003–2007. As
with previous contracts for external audit services, Ernst &
Young LLP will not perform consulting work for us for the
duration of its contract.