Kraig Biocraft Laboratories Inc
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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FY2023 · Filed Apr 1, 2024
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Item 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
| 2023 · 2022 | ||||
|---|---|---|---|---|
| Audit Fees | $30,000 | $24,500 | ||
| Audit-Related Fees | $14,000 | $9,000 | ||
| Tax Fees | $4,600 | $7,100 | ||
| All Other Fees | $ | - | $ | - |
| Total | $48,600 | $40,600 | ||
Audit Fees
For the Company’s fiscal years ended December 31, 2023 and 2022, we were billed approximately $30,000 and $24,500 for professional services rendered for the audit and review of our financial statements.
Audit Related Fees
For the Company’s fiscal year ended December 31, 2023 and 2022, we were billed approximately $14,000 and $9,000 for audit related services.
Tax Fees
For the Company’s fiscal year ended December 31, 2023, we were billed approximately $4,600 for professional services rendered for tax compliance, tax advice, and tax planning For the Company’s fiscal year ended December 31, 2022, we were billed $7,100 for professional services rendered for tax compliance, tax advice, and tax planning.
All Other Fees
The Company did not incur any other fees related to services rendered by our principal accountant for the fiscal years ended December 31, 2023 and 2022.
Effective May 6, 2003, the Securities and Exchange Commission adopted rules that require that before our auditor is engaged by us to render any auditing or permitted non-audit related service, the engagement be:
| ● | approved by our audit committee; or |
|---|---|
| ● | entered into pursuant to pre-approval policies and procedures established by the audit committee, provided the policies and procedures are detailed as to the particular service, the audit committee is informed of each service, and such policies and procedures do not include delegation of the audit committee’s responsibilities to management. |
We do not have an audit committee. Our entire board of directors pre-approves all services provided by our independent auditors.
The pre-approval process has just been implemented in response to the new rules. Therefore, our board of directors does not have records of what percentages of the above fees were pre-approved. However, all of the above services and fees were reviewed and approved by the entire board of directors either before or after the respective services were rendered.
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