PNC Bank 2007 Annual Report Download - page 131

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ITEM
13 – CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information required by this item is included under the
captions “Transactions Involving Directors And Executive
Officers” and “Corporate Governance At PNC – Director
Independence” in our Proxy Statement to be filed for the
annual meeting of shareholders to be held on April 22, 2008
and is incorporated herein by reference.
ITEM
14 – PRINCIPAL ACCOUNTING FEES AND
SERVICES
The information required by this item is included under the
caption “Independent Auditors” in our Proxy Statement to be
filed for the annual meeting of shareholders to be held on
April 22, 2008 and is incorporated herein by reference.
PART IV
ITEM
15 –
EXHIBITS
,
FINANCIAL STATEMENT
SCHEDULES
FINANCIAL STATEMENTS, FINANCIAL
STATEMENT SCHEDULES
Our consolidated financial statements required in response to
this Item are incorporated by reference from Item 8 of this
Report.
The report of our former independent registered public
accounting firm follows:
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Board of Directors and Shareholders of
The PNC Financial Services Group, Inc.
Pittsburgh, Pennsylvania
We have audited the accompanying consolidated balance
sheet of The PNC Financial Services Group, Inc. and
subsidiaries (the “Company”) as of December 31, 2006, and
the related consolidated statements of income, shareholders’
equity, and cash flows for each of the two years in the period
ended December 31, 2006. These 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. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the
financial statements. An audit also includes 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 consolidated financial statements present
fairly, in all material respects, the financial position of The
PNC Financial Services Group, Inc. and subsidiaries as of
December 31, 2006, and the results of their operations and
their cash flows for each of the two years in the period ended
December 31, 2006, in conformity with accounting principles
generally accepted in the United States of America.
As discussed in Note 1 to the consolidated financial
statements, the Company adopted Statement of Financial
Accounting Standard No. 158, “Employers’ Accounting for
Defined Benefit Pension and Other Postretirement Plans – an
amendment of FASB Statements No. 87, 88, 106, and 132(R)”
as of December 31, 2006.
As discussed in Note 1 to the consolidated financial
statements, the accompanying consolidated statement of cash
flows for the year ended December 31, 2006 has been restated.
As a result of the transaction discussed in Note 2 to the
consolidated financial statements, the Company no longer
consolidates BlackRock, Inc. (“BlackRock”). Beginning
September 30, 2006, the Company recognized its investment
in BlackRock using the equity method of accounting.
/s/ Deloitte & Touche LLP
Pittsburgh, Pennsylvania
March 1, 2007 (February 4, 2008 as to the effects of the
restatement discussed in Note 1)
Audited consolidated financial statements of BlackRock, Inc.
(“BlackRock”) for the years ended December 31, 2007 and
December 31, 2006 are incorporated herein by reference to
Item 15(a)(1) of BlackRock’s 2007 Annual Report on
Form 10-K (Commission File Number 001-33099).
EXHIBITS
Our exhibits listed on the Exhibit Index on pages E-1 through
E-6 of this Form 10-K are filed with this Report or are
incorporated herein by reference.
126