ArriVent Biopharma Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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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.
FY2023 · Filed Mar 28, 2024
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Item 14. Principal Accountant Fees and Services
The following table presents fees for professional audit services rendered by KPMG LLP (KPMG) for the audit of our annual financial statements for the year ended December 31, 2023, and fees billed for other services rendered by KPMG.
| | | | | |
|---|---|---|---|---|
| KPMG LLP | 2023 | |||
| Audit Fees (1) | | $1,120,000 | | |
| Audit-Related Fees (2) | | | — | |
| Tax Fees (3) | | | — | |
| All other Fees (4) | | | — | |
| Total | | $1,120,000 | | |
All fees described above were pre-approved by our audit committee. We have furnished the foregoing disclosure to KPMG.
Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Public Accountant
Consistent with SEC policies regarding auditor independence, our audit committee has responsibility for appointing, setting compensation and overseeing the work of our independent registered public accounting firm. In recognition of this responsibility, our audit committee has established a policy to pre-approve all audit and permissible non-audit services provided by our independent registered public accounting firm.
Prior to engagement of an independent registered public accounting firm for the next year’s audit, management will submit an aggregate of services expected to be rendered during that year for each of four categories of services to our audit committee for approval.
| (1) | Audit Fees include professional services in connection with the audit of our financial statements, reviews of our interim financial statements, as well as work that generally only an independent registered public accounting firm can reasonably be expected to provide, including comfort letters, statutory audits, and attest services and consultation regarding financial accounting and/or reporting standards. |
| (2) | There were no Audit-Related Fees during 2023. |
| (3) | There were no Tax Fees during 2023. |
| (4) | There were no Other Fees during 2023. |
Prior to engagement, our audit committee pre-approves these services by category of service. The fees are budgeted, and our audit committee requires our independent registered public accounting firm and management to report actual fees versus the budget periodically throughout the year by category of service. During the year, circumstances may arise when it may become necessary to engage our independent registered public accounting firm for additional services not contemplated in the original pre-approval. In those instances, our audit committee requires specific pre-approval before engaging our independent registered public accounting firm.
Our audit committee may delegate pre-approval authority to one or more of its members. The member to whom such authority is delegated must report, for informational purposes only, any pre-approval decisions to our audit committee at its next scheduled meeting.
PART IV
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