STI » Topics » Audit and Non-Audit Fees

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

Audit and Non-Audit Fees

The following table presents fees for professional audit services rendered by Ernst & Young LLP for the years ended December 31, 2007 and 2008 respectively and fees billed for other services it rendered during those periods.

 

     (In millions)

Year Ended December 31

   2007    2008

Audit Fees(1)

   $ 4.08    $ 7.66

Audit Related Fees(2)

   $ 2.43    $ .22

Tax Fees(3)

   $ .45    $ .10

All Other Fees(4)

   $ .20    $ .03

Total(5)

   $ 7.16    $ 8.01

 

(1)

Audit Fees consist of fees billed for professional services rendered in connection with the audit of our annual consolidated financial statements, review of periodic reports and other documents filed with the SEC, including the quarterly financial statements included in Forms 10-Q, statutory audits or financial audits of subsidiaries, and services that are normally provided in connection with statutory or regulatory filings or engagements.

 

(2)

The amounts shown include $.29 and $.16 paid to PricewaterhouseCoopers LLP in 2007 and 2008, respectively. Audit Related Fees consist of assurance and related services that are reasonably related to the performance of the audit or review of our financial statements. This category includes fees related to the performance of audits and attest services not required by statute or regulations, audits of our benefit plans, due diligence related to mergers, acquisitions and investments, and accounting consultations regarding the application of GAAP to proposed transactions and new products. The amounts reported above do not include the following amounts related to benefits plans and investment funds advised by our subsidiaries:

 

     (not in millions)

Year Ended December 31

   2007    2008

Benefit plan audits fees charged to and paid for by certain benefit plans

   $ 218,000    $ 243,000

Form 5500 fees charged to and paid for by certain benefit plans

   $ 40,000    $ 30,000
Audit of and related fees charged to and paid for by certain investment funds advised by SunTrust subsidiaries    $ 1,171,750    $ 687,200

 

(3)

Tax Fees consist of the aggregate fees billed for professional services rendered by the auditor for tax compliance and return assistance (IRS, state and local), tax advice and tax planning.

 

(4)

The amount shown for 2007 includes $.04 paid in 2007 to PricewaterhouseCoopers LLP.

 

(5)

The amount shown for 2007 includes $.33 paid in 2007 to PricewaterhouseCoopers LLP. Includes all fees billed to us through December 31, 2008.

The Audit Committee has concluded that the provision of the non-audit services listed above was compatible with maintaining the independence of Ernst & Young LLP.

This excerpt taken from the STI DEF 14A filed Feb 29, 2008.

Audit and Non-Audit Fees

The following table presents fees for professional audit services rendered by PricewaterhouseCoopers LLP for the audit of SunTrust’s annual financial statements for the year ended December 31, 2006 and by Ernst and Young LLP for the year ended December 31, 2007, and fees billed for other services rendered by each of them during those periods.

 

     (In millions)  

Year Ended December 31

   2006     2007  

Audit Fees(1)

   $ 3.87     $ 4.08  

Audit Related Fees(2)

   $ 4.00     $ 2.89  

Tax Fees(3)

   $ .40     $ .51  

All Other Fees(4)

   $     $ .20  

Total(5)

   $ 8.27     $ 7.68  

 

(1)

Audit Fees consist of fees billed for professional services rendered in connection with the audit of the annual consolidated financial statements of SunTrust, review of periodic reports and other documents filed with the SEC, including the quarterly financial statements included in Forms 10-Q, statutory audits or financial audits of subsidiaries, and services that are normally provided in connection with statutory or regulatory filings or engagements.

 

(2)

The amount shown for 2007 includes $.29 paid in 2007 to PricewaterhouseCoopers LLP. Audit Related Fees consist of assurance and related services that are reasonably related to the performance of the audit or review of SunTrust’s financial statements. This category includes fees related to the performance of audits and attest services not required by statute or regulations, audits of SunTrust’s benefit plans, due diligence related to mergers, acquisitions and investments, and accounting consultations regarding the application of GAAP to proposed transactions and new products. The amount reported does not include the following amounts related to benefits plans and investment funds advised by SunTrust subsidiaries:

 

     (not in millions)

Year Ended December 31

   2006    2007

benefit plan audits fees charged to and paid for by certain benefit plans

   $ 295,370    $ 218,000

Form 5500 fees charged to and paid for by certain benefit plans

   $ 43,750    $ 40,000
audit of and related fees charged to and paid for by certain investment funds advised by SunTrust subsidiaries    $ 0    $ 663,000

 

(3)

Tax Fees consist of the aggregate fees billed for professional services rendered by the auditor for tax compliance and return assistance (IRS, state and local), tax advice and tax planning.

 

(4)

The amount shown for 2007 includes $.04 paid in 2007 to PricewaterhouseCoopers LLP.

 

(5)

The amount shown for 2007 includes $.33 paid in 2007 to PricewaterhouseCoopers LLP. Includes all fees known to us through February 11, 2008.

The Audit Committee has concluded that the provision of the non-audit services listed above was compatible with maintaining the independence of Ernst and Young LLP.

This excerpt taken from the STI DEF 14A filed Mar 2, 2007.
Audit and Non-Audit Fees
 
The following table presents fees for professional audit services rendered by PricewaterhouseCoopers LLP for the audit of SunTrust’s annual financial statements for the years ended December 31, 2005 and December 31, 2006, and fees billed for other services rendered by PricewaterhouseCoopers LLP during those periods.
 
                 
Year Ended December 31
  2005     2006  
    (In millions)  
 
Audit Fees(1)
  $ 4.77     $ 3.87  
Audit Related Fees(2)
    2.73       4.00  
Tax Fees(3)
    .25       .40  
All Other Fees
           
Total
  $ 7.75     $ 8.27 (4)
 
 
(1) Audit Fees consist of fees billed for professional services rendered in connection with the audit of the annual consolidated financial statements of SunTrust, review of periodic reports and other documents filed with the SEC, including the quarterly financial statements included in Forms 10-Q, statutory audits or financial audits of subsidiaries, and services that are normally provided in connection with statutory or regulatory filings or engagements.
 
(2) Audit Related Fees consist of assurance and related services that are reasonably related to the performance of the audit or review of SunTrust’s financial statements. This category includes fees related to the performance of audits and attest services not required by statute or regulations, audits of SunTrust’s benefit plans, due diligence related to mergers, acquisitions and investments, and accounting consultations regarding the application of GAAP to proposed transactions and new products. This category does not include the following benefit plan and compliance fees charged by PricewaterhouseCoopers LLP and paid by the plans and not by SunTrust (not in millions): benefit plan audits for 2006, $295,370; benefit plan audits for 2005, $603,201; Form 5500 for 2006, $43,750; and Form 5500 for 2005, $46,400.
 
(3) Tax Fees consist of the aggregate fees billed for professional services rendered by PricewaterhouseCoopers LLP for tax compliance and return assistance (IRS, state and local), tax advice and tax planning.
 
(4) Includes all fees known to us through February 12, 2007.
 
The Audit Committee has concluded the provision of the non-audit services listed above was compatible with maintaining the independence of PricewaterhouseCoopers LLP.
 
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