Our fees for services are based upon the time expended on an assignment by our staff. Hourly rates are computed for each classification of staff including the partners. These rates are applied to the hours accumulated on an assignment to produce a fee at regular rate. Our internal procedures require each staff member assigned to an engagement to accumulate time spent on that assignment so that we may distinguish between categories such as audit, tax, management advisory and other services. In respect of initial examinations, it is the policy of our firm to absorb the initial “start-up” costs representing the additional time needed to acquire the background of a new client and also to develop a working knowledge of the operations. Travel and out-of-pocket expenses incurred by our staff are accumulated and recovered from our client.
