US Postal Service 2013 Annual Report Download - page 73

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2013 Report on Form 10-K United States Postal Service 71
ITEM 12 — SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS
Not applicable to the United States Postal Service. As an “independent establishment of the executive branch of the
Government of the United States,” we do not issue equity securities.
ITEM 13 — CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND
DIRECTOR INDEPENDENCE
CERTAIN TRANSACTIONS
We enter into significant transactions with other government agencies, as disclosed throughout this report and the
financial statements.
DIRECTOR INDEPENDENCE
All of the Governors of the Postal Service Board of Governors who are currently serving and have been appointed by the
President of the United States, with the advice and consent of the Senate, are independent based on the New York Stock
Exchange definition of independence.
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. In October 2009, the contract was extended to February 2014 with two option years to February 2016. As with
previous contracts for external audit services, Ernst & Young LLP will not perform consulting work for us for the duration of
the contract. Fees for audit services totaled approximately $11.0 million in 2013, $11.6 million in 2012, and $10.4 million in
2011, including fees associated with the annual audit, and including the reviews of the Postal Service’s quarterly reports
on Form 10-Q and testing of management’s internal control assessment in accordance with the Sarbanes-Oxley Act in
2013, 2012, and 2011.