Company: FPF
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001445546-25-002022
Chunk: 26

Company: First Trust Intermediate Duration Preferred & Income Fund
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 26
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In performing its oversight function,
the Audit Committee reviewed and discussed with management and the independent auditors, Deloitte & Touche LLP, the audited financial
statements of the First Trust Mortgage Income Fund and the First Trust Intermediate Duration Preferred & Income Fund for the fiscal
year ended October 31, 2024 at a meeting held on December 19, 2024 and the First Trust Enhanced Equity Income Fund for the fiscal year
ended December 31, 2024 at a meeting held on February 20, 2025, and discussed the audits of such financial statements with the independent
auditors and management.

In addition, the Audit Committee
discussed with the independent auditors the accounting principles applied by the Funds and such other matters brought to the attention
of the Audit Committee by the independent auditors as required by the Public Company Accounting Oversight Board (“PCAOB”)
Auditing Standard 1301, Communications with Audit Committees. The Audit Committee also received from the independent auditors the written
disclosures and letter required by PCAOB Ethics and Independence Rule 3526, Communication with Audit Committees Concerning Independence,
delineating relationships between the independent auditors and the Funds, and discussed the impact that any such relationships may have
on the objectivity and independence of the independent auditors.

The members of the Funds’
Audit Committee are not full-time employees of the Funds and are not performing the functions of auditors or accountants. As such, it
is not the duty or responsibility of the Audit Committee or its members to conduct “field work” or other types of auditing
or accounting reviews or procedures or to set auditor independence standards. Members of the Funds’ Audit Committee necessarily
rely on the information provided to them by Fund management and the independent auditors. Accordingly, the Audit Committee’s considerations
and discussions referred to above do not assure that the audits of the Funds’ financial statements have been carried out in accordance
with generally accepted auditing standards, that the financial statements are presented in accordance with generally accepted accounting
principles or that the independent auditors are in fact “independent.”

Based on its consideration of
the Funds’ audited financial statements and the discussions referred to above with Fund management and Deloitte & Touche LLP,
and subject to the limitations on the responsibilities and role of the Audit Committee as set forth in the Charter and discussed above,
the Audit Committee recommended to the Board the inclusion of each Fund’s audited financial statements in each Fund’s Annual
Report