EXHIBIT 99.4
For fiscal years ended December 31, 2008 and December 31, 2007, KPMG LLP and its affiliates were paid by Cameco Corporation and its subsidiaries the following fees:
2008 | % of Total | 2007 | % of Total | |||||||||||||
(Cdn $) | Fees | (Cdn $) | Fees | |||||||||||||
Audit Fees: | ||||||||||||||||
Cameco | $ | 1,062,500 | 34.1 | % | $ | 890,000 | 44.9 | % | ||||||||
Centerra and other subsidiaries | 1,197,276 | 38.5 | % | 661,400 | 33.4 | % | ||||||||||
Total Audit Fees | $ | 2,259,776 | 72.6 | % | $ | 1,551,400 | 78.3 | % | ||||||||
Audit-Related Fees: | ||||||||||||||||
Sarbanes-Oxley 404 scoping project | — | — | $ | 41,500 | 2.1 | % | ||||||||||
Translation services | $ | 170,000 | 5.5 | % | — | — | ||||||||||
Cameco consulting | 98,200 | 3.1 | % | 31,500 | 1.5 | % | ||||||||||
Centerra consulting | — | — | 153,900 | 7.8 | % | |||||||||||
Pensions | 15,000 | 0.5 | % | 13,000 | 0.7 | % | ||||||||||
Potential financing & convertible debentures | 326,260 | 10.5 | % | — | — | |||||||||||
Total Audit-Related Fees | $ | 609,460 | 19.6 | % | $ | 239,900 | 12.1 | % | ||||||||
Tax Fees: | ||||||||||||||||
Compliance | $ | 121,500 | 3.9 | % | $ | 130,400 | 6.6 | % | ||||||||
Planning and advice | 122,300 | 3.9 | % | 58,800 | 3.0 | % | ||||||||||
Total Tax Fees | $ | 243,800 | 7.8 | % | $ | 189,200 | 9.6 | % | ||||||||
All Other Fees: | — | — | — | — | ||||||||||||
Total Fees | $ | 3,113,036 | 100 | % | $ | 1,980,500 | 100 | % | ||||||||
Pre-Approval Policies and Procedures
As part of Cameco Corporation’s corporate governance practices, under its audit committee charter, the audit committee is required to pre-approve the audit and non-audit services performed by the external auditors. The audit committee pre-approves the audit and non-audit services up to a maximum specified level of fees. If fees relating to audit and non-audit services are expected to exceed this level or if a type of audit or non-audit service is to be performed that previously has not been pre-approved, then separate pre-approval by Cameco Corporation’s audit committee or audit committee chair, or in the absence of the audit committee chair, the chair of the board, is required. All pre-approvals granted pursuant to the delegated authority must be presented by the member(s) who granted the pre-approvals to the full audit committee at its next meeting. The audit committee has adopted a written policy to provide procedures to implement the foregoing principles. For each of the years ended December 31, 2008 and 2007, none of Cameco Corporation’s Audit-Related Fees, Tax Fees or All Other Fees made use of the de minimis exception to pre-approval provisions contained in paragraph (c)(7)(i) of Rule 2-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission.