Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 601

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 601
---
 immediate family member of a director or an entity with which a
    director is affiliated;

    ●
    the availability of other
    sources for comparable services or products; and

    ●
    the terms available to
    or from, as the case may be, unrelated third parties or to or from employees, generally.

The
policy requires that, in determining whether to approve, ratify or reject a related person transaction, our Audit Committee, or other
independent body of our Board of Directors, must consider, in light of known circumstances, whether the transaction is in, or is not
inconsistent with, our best interests and those of our shareholders, as our Audit Committee, or other independent body of our Board,
determines in the good faith exercise of its discretion.

82

ITEM
14. PRINCIPAL ACCOUNTING FEES AND SERVICES

On
November 18, 2022, we appointed Lumsden & McCormick, LLP to serve as our independent auditor. Our independent auditor billed an aggregate
of $10,000 through December 31, 2024 for professional services rendered for the audit of our 2024 annual financial statements. We incurred
fees from both Haynie & Company as well as Lumsden & McCormick, LLP for the year ended December 31, 2023 and only incurred fees
from Lumsden & McCormick, LLP for the year ended December 31, 2024, as discussed below:

    Fiscal
    Year Ended December 31, 

    2024  
    2023 
  
    Audit Fees 
    $110,000  
    $123,250 
  
    Audit-Related Fees (1) 
    $19,300  
    $60,546 
  
    Tax Fees 
    $22,000  
    $22,365 
  
    All Other Fees 
    $36,000  
    $9,925 
  
    Total 
    $187,300  
    $216,086 

    (1)
    Fees incurred in conjunction
    with consents for various registration statements filed during years.

Audit
fees consist of fees related to professional services rendered in connection with the audit of our annual financial statements. All other
fees relate to professional services rendered in connection with the review of the quarterly financial statements.

Our
policy is to pre-approve all audit and permissible non-audit services performed by the independent accountants.