Table:
|  | Fiscal Year 2019 ($) | Fiscal Year 2018 ($) |
| --- | --- | --- |
| AuditFees(1) | 4,703,830 | 4,605,495 |
| Audit-RelatedFees(2) | 27,000 | 90,500 |
| TaxFees(3) | 194,170 | 34,888 |
| AllOtherFees | — | — |
| TOTAL | 4,925,000 | 4,730,883 |
Paragraphs:
Fees Billed by Ernst & Young LLP
The table below shows the fees billed by EY for audit and other services provided to the Company in fiscal years 2019 and 2018.
Figure 48. FY2019/2018 Fees Billed by Ernst & Young LLP
(1) Audit Fees represent fees for professional services provided in connection with the audits of annual financial statements. Audit Fees also include reviews of quarterly financial statements, audit services related to other statutory or regulatory filings or engagements, and fees related to EY’s audit of the effectiveness of the Company’s internal control over financial reporting pursuant to section 404 of the Sarbanes-Oxley Act.
(2) Audit-Related Fees represent fees for assurance and related services that are reasonably related to the audit or review of the Company’s financial statements and are not reported above under “Audit Fees”. These fees principally include due diligence and accounting consultation fees in connection with our acquisition of Coventor, Inc. in 2018 and an information systems audit in 2019.
(3) Tax Fees represent fees for professional services for tax planning, tax compliance and review services related to foreign tax compliance and assistance with tax audits and appeals.
The audit committee reviewed summaries of the services provided by EY and the related fees during fiscal year 2019 and has determined that the provision of non-audit services was compatible with maintaining the independence of EY as the Company’s independent registered public accounting firm. The audit committee or its delegate approved 100% of the services and related fee amounts for services provided by EY during fiscal year 2019.
Question:
What do the the audit fees represent?
Answer: fees for professional services provided in connection with the audits of annual financial statements