Cincinnati Bell 2006 Annual Report Download - page 33

Any general statement that incorporates this Proxy Statement into any filing under the Securities Act of
1933 or under the Securities Exchange Act of 1934 shall not be deemed to incorporate by reference this Audit
and Finance Committee Report and related disclosure. Except to the extent the Company specifically
incorporates such Report and related disclosure by reference, this information shall not otherwise be deemed to
have been filed under such Acts.
AUDIT AND FINANCE COMMITTEE REPORT
The Audit and Finance Committee of the Board has reviewed and discussed the Company’s audited
financial statements with the management of the Company and has reviewed a report from management
assessing the Company’s internal controls. The Audit and Finance Committee has discussed with Deloitte &
Touche LLP, the Company’s Independent Accountants for the fiscal year ended December 31, 2006, the matters
required to be discussed by the Statement on Auditing Standards No. 61 and Rule 2-07 of Regulation S-X. The
Audit and Finance Committee has also received the written disclosures and letter from the Independent
Accountants required by Independence Standards Board Standard No. 1 (Independence Discussions with Audit
Committees), has discussed with Deloitte & Touche LLP the independence of such Independent Accountants,
and has considered the question of whether the auditors’ provision of non-audit services was compatible with the
Independent Accountants maintaining their independence.
Based on its review and discussions referred to in the preceding paragraph, the Audit and Finance
Committee recommended to the Board that the audited financial statements for the Company’s fiscal year ended
December 31, 2006 be included in the Company’s Annual Report on Form 10-K for the Company’s fiscal year
ended December 31, 2006.
The Board has determined that each member of the Audit and Finance Committee satisfies the independence
requirements of the rules and regulations of the SEC and the independence and other requirements of the rules
and listing standards of the NYSE. The Board has determined that Daniel J. Meyer, Robert W. Mahoney and
John M. Zrno are audit committee financial experts as defined in the rules and regulations of the SEC and that
each member of the Committee is financially literate as defined by the rules and listing standards of the NYSE.
AUDIT AND FINANCE COMMITTEE
Daniel J. Meyer, Chairman
Phillip R. Cox
Robert W. Mahoney
John M. Zrno
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Proxy Statement