PBF Energy 2012 Annual Report Download - page 144

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors of PBF Holding Company LLC:
We have audited the accompanying balance sheet of the Paulsboro Refining Business as of December 16, 2010,
and the related statement of income, changes in net parent investment, and cash flows for the period from
January 1 through December 16, 2010. These financial statements are the responsibility of the management of
the Paulsboro Refining Business. Our responsibility is to express an opinion on these financial statements based
on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes consideration of internal
control over financial reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Paulsboro Refining
Business’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the Paulsboro Refining Business as of December 16, 2010, and the results of its operations and its
cash flows for the period from January 1 through December 16, 2010, in conformity with U.S. generally accepted
accounting principles.
/s/ KPMG LLP
San Antonio, Texas
June 23, 2011
F-52