QVC INC
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 15, 2026
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Item 14. Principal Accounting Fees and Services
Audit Fees and All Other Fees
The following table presents fees for professional audit services rendered by KPMG LLP and its international affiliates for the audit of QVC’s consolidated financial statements for 2025 and 2024 and fees billed for other services rendered by KPMG LLP:
| Year ended December 31, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Audit fees (1) | $7,948 | $7,573 |
| Audit related fees (2) | 22 | — |
| Audit and audit related fees | 7,970 | 7,573 |
| Tax fees (3) | 12 | 835 |
| Other (4) | 4 | — |
| Total fees | $7,986 | $8,408 |
(1) For both years, fees for the annual audit of the Company’s consolidated financial statements included in the Company’s Form 10-K filing and review of financial statements included in the Company’s Form 10-Q filings. The amount also includes other services normally provided in connection with statutory and regulatory filings and engagements.
(2) For 2025, audit-related fees consisted of fees for ESG audits for certain international entities.
(3) Tax fees consist of tax compliance and consultations regarding the tax implications of certain transactions.
(4) Fees that do not fall within the categories set forth above. Fees for 2025 are for participation in an educational program.
Policy on Pre-Approval of Audit and Permissible Non-Audit Services of Independent Auditor
The Audit Committee of QVC Group has adopted a policy regarding the pre-approval of all audit and permissible non-audit services provided by QVC's independent auditor. Pursuant to this policy, QVC Group's Audit Committee has approved the engagement of QVC's independent auditor to provide the following services (all of which are collectively referred to as "pre-approved services"):
Audit services as specified in the policy, including (i) financial audits of QVC and its subsidiaries, (ii) services associated with QVC's registration statements, periodic reports and other documents filed or issued in connection with securities offerings (including comfort letters and consents), (iii) attestations of management reports on QVC's internal controls and (iv) consultations with management as to accounting or disclosure treatment of transactions;
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Audit related services as specified in the policy, including (i) due diligence services, (ii) financial statement audits of employee benefit plans, (iii) consultations with management as to the accounting or disclosure treatment of transactions, (iv) attest services not required by statute or regulation, (v) certain audits incremental to the audit of QVC’s consolidated financial statements, (vi) closing balance sheet audits related to dispositions, and (vii) general assistance with implementation of the requirements of certain SEC rules or listing standards; and
Tax services as specified in the policy, including federal, state, local and international tax planning, compliance and review services, and tax due diligence and advice regarding mergers and acquisitions.
Notwithstanding the foregoing general pre-approval, if an individual project involving the provision of pre-approved services is expected to result in fees in excess of $100,000, or if individual projects under $100,000 are expected to total $500,000 during the period between the regularly scheduled meetings of QVC Group's Audit Committee, then such projects will require the specific pre-approval of QVC Group's Audit Committee. QVC Group's Audit Committee has delegated the authority for the foregoing approvals to the chairman of the Audit Committee, subject to his subsequent disclosure to the entire Audit Committee of the granting of any such approval. M. Ian G. Gilchrist currently serves as the chairman of QVC Group's Audit Committee. In addition, the independent auditor is required to provide a report at each regularly scheduled Audit Committee meeting on all pre-approved services incurred during the preceding quarter. Any engagement of QVC's independent auditor for services other than the pre-approved services requires the specific approval of QVC Group's Audit Committee.
QVC Group’s pre-approval policy prohibits the engagement of QVC's independent auditor to provide any services that are subject to the prohibition imposed by Section 201 of the Sarbanes-Oxley Act.
All services provided by QVC's independent auditor during 2025 and 2024 were approved in accordance with the terms of the policy.
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