Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 76

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 76
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 of the Company’s internal controls, and the overall quality and effectiveness of the Company’s financial reporting process and legal and ethical compliance programs, including the Company’s Code of Business Ethics and Conduct. The Audit Committee held six meetings during fiscal 2025 and had full access to each of the aforementioned parties. In fulfilling its oversight responsibilities, the Audit Committee has reviewed and discussed with management and the independent accountants the consolidated financial statements for fiscal 2025, including a discussion on the quality and acceptability of the Company’s accounting policies, the critical audit matters addressed in PwC’s audit report, the reasonableness of significant judgments and estimates, and the clarity of disclosures in the consolidated financial statements. The Audit Committee also monitored the progress and results of testing of internal controls over financial reporting, reviewed reports from management and internal audit regarding design, operation, and effectiveness of internal controls over financial reporting, and reviewed the report from the independent accountants regarding the effectiveness of the Company’s internal control over financial reporting. The Audit Committee has discussed with the independent accountants the matters required to be discussed by Auditing Standard 1301 and SEC Rule 2-07.The independent accountants have provided the Audit Committee with written disclosures and the letter required by the Public Company Accounting Oversight Board regarding independent accountants’ communications with the audit committee concerning independence, and the Audit Committee has discussed with the independent accountants and management the accountants’ independence. The Audit Committee approved non-auditservices provided by PricewaterhouseCoopers LLP during fiscal 2025. The Audit Committee considered whether PricewaterhouseCoopers LLP’s provision of non-auditservices to the Company and its affiliates and the fees and costs billed for those services, is permissible with PricewaterhouseCoopers LLP’s independence. The Audit Committee has a clear policy on non-auditservices that may be provided by the independent accountants, which prohibits certain categories of work and requires pre-authorizationfor all non-auditrelated services. Based upon the reviews and discussions referred to above, the Audit Committee recommended, and the Board approved that the audited consolidated financial statements be included in the Company’s Form 10-Kfor the fiscal 2025 for filing with the SEC. The Audit Committee has recommended for approval by the Board the selection of the Company’s independent accountants. The Audit Committee: Thomas F. Bonadio, Chair Theresa M. Payton Kevin A. Price Kara Wilson Paychex, Inc. 2025 Proxy Statement •67

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