PBF Energy 2012 Annual Report Download - page 94
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To Stockholders and the Board of Directors of
PBF Energy Inc. and subsidiaries:
We have audited the accompanying combined and consolidated balance sheets of PBF Energy Inc. and
subsidiaries (combined and consolidated with PBF Energy Company LLC and subsidiaries) (the “Company”) as
of December 31, 2012 and 2011, and the related combined and consolidated statements of operations,
comprehensive income (loss), equity, and cash flows for each of the three years in the period ended
December 31, 2012. These combined and consolidated financial statements are the responsibility of the
Company’s management. Our responsibility is to express an opinion on these financial statements based on our
audits.
We conducted our audits 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. The Company is not required to have, nor
were we engaged to perform, an audit of its internal control over financial reporting. Our audits included
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
Company’s 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 audits provide a reasonable basis for our
opinion.
In our opinion, such combined and consolidated financial statements present fairly, in all material respects, the
financial position of PBF Energy Inc. and subsidiaries (combined and consolidated with PBF Energy Company
LLC and subsidiaries) as of December 31, 2012 and 2011, and the results of their operations and their cash flows
for each of the three years in the period ended December 31, 2012, in conformity with accounting principles
generally accepted in the United States of America.
/s/ Deloitte & Touche LLP
Parsippany, New Jersey
February 28, 2013
F-2