Ally Bank 2011 Annual Report Download - page 258

Table of Contents
Ally Financial Inc. • Form 10−K
Item 14. Principal Accountant Fees and Services
We retained Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu Limited, and their respective affiliates (collectively,
Deloitte & Touche) to audit our consolidated financial statements for the year ended December 31, 2011. We also retained Deloitte & Touche, as well as
other accounting and consulting firms, to provide various other services in 2011.
The aggregate fees billed to us for professional services performed by Deloitte & Touche were as follows.
December 31, ($ in millions) 2011 2010
Audit fees (a) $ 20 $ 20
Audit−related fees (b) 6 6
Tax fees (c) 1 1
Other (d) — —
Total principal accountant fees $ 27 $ 27
(a) Audit fees include fees for the integrated audit of our annual Consolidated Financial Statements, reviews of interim financial statements included in our Quarterly Reports on
Form 10−Q, and audit services in connection with statutory and regulatory filings. In addition, this category includes approximately $1 million in both 2011 and 2010, pertaining to
services such as comfort letters for securities issuances and consents to the incorporation of audit reports in filings with SEC.
(b) Audit−related fees include fees for assurance and related services that are traditionally performed by the principal accountant, including attest services related to servicing and
compliance, agreed−upon procedures relating to securitizations and financial asset sales, audits of nonconsolidated entities, internal control reviews, consultation concerning
financial accounting and reporting standards, audits in connection with acquisitions and divestitures, employee benefit plan audits, and audits of actuarial estimates.
(c) Tax fees include fees for services performed for tax compliance, tax planning, and tax advice, including preparation of tax returns and claims for refund, and tax payment−planning
services. Tax planning and advice also include assistance with tax audits and appeals and tax advice related to specific transactions.
(d) Other fees include products and services other than those defined above as audit fees, audit−related fees, or tax fees. Generally, other fees pertain to consulting on regulatory,
operational, and technology matters that do not relate directly to accounting or tax activities.
The services performed by Deloitte & Touche in 2011 were preapproved in accordance with the Independent Auditor Services and Preapproval Policy
of the Ally Audit Committee. This policy requires the independent registered public accounting firm to present the proposed audit services and related fees
to the Ally Audit Committee for approval prior to the commencement of the services. Amounts exceeding the initially approved audit fees, or audit services
not initially contemplated or considered during the initial approval, must be separately approved by the Committee.
The Ally Audit Committee must also preapprove all audit−related services, tax services, and all other services that are proposed to be provided by the
independent registered public accounting firm. Similar to audit services, management and the independent registered public accounting firm annually
present the proposed services and related fees to the Ally Audit Committee for approval prior to the commencement of services. The Committee's approval
of the services and fees form the basis for an annual limit on such fees. The Committee periodically reviews the spending against these limits. Services that
were not initially contemplated or considered during the initial approval must be separately approved by the Committee.
The Ally Audit Committee determined that all services provided by Deloitte & Touche during 2011 were compatible with maintaining their
independence as principal accountants.
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