This excerpt taken from the PNC DEF 14A filed Mar 28, 2008.
In considering the nature of the services provided by the independent auditors, the Audit Committee determined that the services are compatible with the provision of independent audit services. The committee discussed these services with the independent auditors and our management to determine that they are permitted under the SEC rules and regulations concerning auditor independence.
The following table summarizes the aggregate fees billed to PNC for services rendered by PwC for 2007 and D&T for 2006:
Note: BlackRock, Inc. was deconsolidated from PNC after the merger of BlackRock and Merrill Lynch Investment Managers on September 29, 2006. Although fees paid by BlackRock to D&T for 2006 include services provided prior to the deconsolidation, BlackRock was no longer a consolidated subsidiary at the effective date of the audit. As a result, the 2006 amounts listed above do not include any fees or services with respect to BlackRock. Based on information provided to us by BlackRock, the aggregate fees for total services billed to BlackRock by D&T in 2006 were approximately $11 million.
Audit Fees. The aggregate fees billed for audit services for the years ended December 31, 2007 and December 31, 2006 were $8,636,755 and $9,893,625, respectively. These fees consisted primarily of the audit of PNCs annual consolidated financial statements, reviews of PNCs quarterly consolidated financial statements included in Form 10-Q filings, comfort letters and other services related to SEC matters, assistance with the implementation of new accounting pronouncements and related expenses.
Audit-Related Fees. The aggregate fees billed for audit-related services for the year ended December 31, 2007 and December 31, 2006 were $771,607 and $639,515, respectively. These fees consisted primarily of compliance reviews and transaction-related services.
Tax Fees. The aggregate fees billed for tax services for the year ended December 31, 2007 and December 31, 2006 were $403,505 and $53,457, respectively. These amounts were attributable to tax compliance services and international tax consulting.
All Other Fees. The aggregate fees billed for all other services for the year ended December 31, 2007 were $485,635. These fees primarily consist of services for transaction-related services.
The aggregate fees billed for all other services for the year ended December 31, 2006 were $123,020. These fees consist of services for agreed-upon procedures relating to commercial mortgage-backed securities transactions and agreed-upon procedures relating to fund administration.