EXHIBIT 99.4
For fiscal years ended December 31, 2011 and December 31, 2010, KPMG LLP and its affiliates were paid by Cameco Corporation and its subsidiaries the following fees:
(Cdn$) | 2011 | % of Total Fees | 2010 | % of Total Fees | ||||||||||||
Audit Fees: | ||||||||||||||||
Cameco | $ | 1,773,600 | 61.4 | % | $ | 1,697,700 | 62.6 | % | ||||||||
Subsidiaries | 400,700 | 13.9 | % | 256,200 | 9.5 | % | ||||||||||
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Total Audit Fees | $ | 2,174,300 | 75.3 | % | $ | 1,953,900 | 72.1 | % | ||||||||
Audit-Related Fees: | ||||||||||||||||
Translation services | — | — | $ | 44,500 | 1.7 | % | ||||||||||
Accounting advisory | $ | 195,100 | 6.8 | % | 273,400 | 10.1 | % | |||||||||
Pensions and other | 21,000 | 0.7 | % | 20,000 | 0.7 | % | ||||||||||
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Total Audit-Related Fees | $ | 216,100 | 7.5 | % | $ | 337,900 | 12.5 | % | ||||||||
Tax Fees: | ||||||||||||||||
Compliance | $ | 62,500 | 2.2 | % | $ | 199,200 | 7.3 | % | ||||||||
Planning and advice | 433,400 | 15.0 | % | 219,500 | 8.1 | % | ||||||||||
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Total Tax Fees | $ | 495,900 | 17.2 | % | $ | 418,700 | 15.4 | % | ||||||||
All Other Fees: | — | — | — | — | ||||||||||||
Total Fees: | $ | 2,886,300 | 100.0 | % | $ | 2,710,500 | 100.0 | % |
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, 2011 and 2010, 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.