AVROBIO Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
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Item 14. Principal Accounting Fees and Services
The following table sets forth all fees paid or accrued by AVROBIO for professional audit services and other services rendered by Ernst & Young LLP during the years ended December 31, 2023 and December 31, 2022.
| 2023 | 2022 | |
|---|---|---|
| Audit fees(1) | $560,900 | $598,408 |
| Audit-related fees | — | — |
| Tax fees(2) | $152,503 | $64,166 |
| All other fees(3) | — | 3,600 |
| Total fees | $713,403 | $666,174 |
(1) Audit fees consist of fees for professional services provided by Ernst & Young LLP for the audit of AVROBIO’s annual financial statements, the review of interim consolidated financial statements and consultations on accounting matters directly related to the audit, and comfort letters, consents and assistance with and review of documents filed with the SEC.
(2) Tax fees consist of fees for professional services in connection with tax compliance, tax planning, and tax advice, including the review and preparation of AVROBIO’s federal, state and foreign income tax returns and requests for rulings or technical advice from tax authorities.
(3) Other fees consist of aggregate fees billed for products and services provided by Ernst & Young LLP other than those fees disclosed above. For the year ended December 31, 2022, the other fees relate to AVROBIO’s Ernst & Young research website membership.
Audit Committee Pre-approval Policy and Procedures
The Audit Committee has adopted policies and procedures relating to the approval of all audit and non-audit services that are to be performed by AVROBIO’s independent registered public accounting firm. This policy provides that AVROBIO will not engage its independent registered public accounting firm to render audit or non-audit services unless the service is specifically approved in advance by the Audit Committee or the engagement is entered into pursuant to the pre-approval procedure described below.
From time to time, the Audit Committee may pre-approve specified types of services that are expected to be provided to AVROBIO by its independent registered public accounting firm during the next 12 months. The Audit Committee has delegated authority to the Chair of the Audit Committee to pre-approve services up to a designated amount. A summary of any new services pre-approved by the Chair is reported to the full Audit Committee in connection with its next scheduled meeting.
During AVROBIO’s 2023 and 2022 fiscal years, no services were provided to AVROBIO by Ernst & Young LLP other than in accordance with the pre-approval policies and procedures described.
The Audit Committee meets with representatives of Ernst & Young LLP periodically, but no less than quarterly throughout the year. The Audit Committee reviews audit, non-audit and tax services rendered by and the performance of Ernst & Young LLP, as well as fees charged by Ernst & Young LLP for such services. In engaging Ernst & Young LLP for the services described above, the Audit Committee considered whether the provision of such services is compatible with maintaining Ernst & Young LLP’s independence.
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