RF » Topics » Fees

This excerpt taken from the RF DEF 14A filed Mar 6, 2009.

Fees

 

The aggregate fees paid to Ernst & Young LLP by Regions during 2008 and 2007 are set forth in the following table:

 

     2008    2007

Audit fees(1)

   $ 3,772,300    $ 4,875,300

Audit related fees(2)

     1,376,100      951,900

Tax fees(3)

     969,900      1,264,700

All other fees(4)

     257,700      179,100
             

Total fees

   $ 6,376,000    $ 7,271,000

 

(1)   Audit fees included fees associated with the annual audit of Regions’ consolidated financial statements and internal control over financial reporting, reviews of Regions’ quarterly reports on Form 10-Q, SEC regulatory filings and statutory audits of certain of Regions’ subsidiaries.

 

(2)   Audit related fees primarily included accounting consultation, assistance with securitizations or other accounting transactions, SAS 70 internal control reports and audits of employee benefit plans and nonregistered funds.

 

(3)   Tax fees included tax compliance services and tax advice and planning assistance.

 

(4)   All other fees included primarily assistance with cash management services and human resources services. No financial information systems implementation and design services were rendered by Ernst & Young LLP during 2008 or 2007.

 

In accordance with the Audit Committee Charter, the Audit Committee must pre-approve any engagement of Ernst & Young LLP for audit or non-audit services. The Audit Committee has delegated to its chairperson the authority to pre-approve permissible non-audit services. Any such approval of non-audit services pursuant to this delegation of the full Audit Committee’s authority must be presented to the Audit Committee at its next regular meeting.

 

This excerpt taken from the RF DEF 14A filed Mar 12, 2008.

Fees

 

The aggregate fees paid to Ernst & Young LLP by Regions during 2007 and 2006 are set forth in the following table:

 

     2007

   2006

Audit fees(1)

   $ 4,875,300    $ 3,720,250

Audit related fees(2)

     951,900      1,054,500

Tax fees(3)

     1,264,700      903,950

All other fees(4)

     179,100      136,000
    

  

Total fees

   $ 7,271,000    $ 5,814,700

(1)   Audit fees included fees associated with the annual audit of Regions’ consolidated financial statements and internal control over financial reporting, reviews of Regions’ quarterly reports on Form 10-Q, SEC regulatory filings and statutory audits of certain of Regions’ subsidiaries.

 

(2)   Audit related fees primarily included accounting consultation, assistance with securitizations or other accounting transactions, SAS 70 internal control reports and audits of employee benefit plans and nonregistered funds.

 

(3)   Tax fees included tax compliance services and tax advice and planning assistance.

 

(4)   All other fees included primarily assistance with cash management services and human resources services. No financial information systems implementation and design services were rendered by Ernst & Young LLP during 2007 or 2006.

 

In accordance with the Audit Committee Charter, the Audit Committee must preapprove any engagement of Ernst & Young LLP for audit or nonaudit services. The Audit Committee has delegated to its chairperson the authority to preapprove permissible nonaudit services. Any such approval of nonaudit services pursuant to this delegation of the full Audit Committee’s authority must be presented to the Audit Committee at its next regular meeting.

 

This excerpt taken from the RF DEF 14A filed Mar 19, 2007.

Fees

 

The aggregate fees paid to Ernst & Young LLP by Regions during 2006 and 2005 are set forth in the following table:

 

     2006

   2005

Audit fees(1)

   $ 3,720,250    $ 2,440,000

Audit related fees(2)

     1,054,500      789,000

Tax fees(3)

     903,950      1,099,000

All other fees(4)

     136,000      396,000
    

  

Total fees

   $ 5,814,700    $ 4,724,000

(1)   Audit fees included fees associated with the annual audit of Regions’ consolidated financial statements and internal control over financial reporting, reviews of Regions’ quarterly reports on Form 10-Q, SEC regulatory filings, and statutory audits of certain of Regions’ subsidiaries.

 

(2)   Audit related fees primarily included accounting consultation, assistance with securitizations or other accounting transactions, SAS 70 internal control reports, and audits of employee benefit plans and funds.

 

(3)   Tax fees included tax compliance services and tax advice and planning assistance.

 

(4)   All other fees included primarily assistance with cash management services and human resources services. No financial information systems implementation and design services were rendered by Ernst & Young during 2006 or 2005.

 

In accordance with the Audit Committee Charter, the Audit Committee must preapprove any engagement of Ernst & Young LLP for audit or nonaudit services. The Audit Committee has delegated to its chairperson the authority to preapprove permissible nonaudit services, provided the anticipated fee for such service does not exceed $50,000. Any such approval of nonaudit services pursuant to this delegation of the full Audit Committee’s authority must be presented to the Audit Committee at its next regular meeting.

 

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