AIR INDUSTRIES GROUP
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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FY2024 · Filed Apr 15, 2025
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Item 14. Principal Accountant Fees and Services
As required by our Audit Committee charter, our Audit Committee pre-approved the engagement of Marcum LLP for all audit and permissible non-audit services. The Audit Committee annually reviews the audit and permissible non-audit services performed by our principal accounting firm and reviews and approves the fees charged by our principal accounting firm. The Audit Committee considered the role of Marcum LLP in providing tax and audit services and other permissible non-audit services to us while it was serving as our auditor and concluded that the provision of such services, if any, was compatible with the maintenance of such firm’s independence in the conduct of its auditing functions.
During fiscal years 2024 and 2023, the aggregate fees which we paid to or were billed by Marcum for professional services were as follows:
| Year Ended December 31, 2024 | Year Ended December 31, 2023 | |
|---|---|---|
| Audit Fees(1) | $579,000 | $340,000 |
| Audit Related Fees(2) | - | 21,000 |
| Tax Fees(3) | 2,000 | 62,000 |
| $581,000 | $423,000 |
| (1) | Audit fees - these fees relate to the audit of our consolidated annual financial statements and the review of our interim quarterly condensed financial statements, comfort letters and our registration statements. The annual audit fee included in this category was $315,000 and $250,000 for 2024 and 2023, respectively. |
| (2) | Audit-related fees - the aggregate fees billed for assurance and related services by the principal accountant that are related to the performance of the audit or review of the registrant’s financial statements and not reported under paragraph (1) above. |
| (3) | Tax fees - the aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning. |
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