Ameriprise 2006 Annual Report Download - page 56

Changes in and Disagreements with Accountants
on Accounting and Financial Disclosure
54 Ameriprise Financial, Inc. 2006 Annual Report
Our Consolidated Financial Statements for the years ended
December 31, 2005 and 2004 have been audited by
Ernst & Young LLP, our independent registered public
accounting firm.
Through 2004, Ernst & Young LLP provided audit services to
our company as part of the audit services it provided to
American Express Company (“American Express”). In 2004,
the American Express Audit Committee of its Board of
Directors determined to request proposals from auditing firms
for their 2005 audit. This request was made pursuant to the
American Express Audit Committee charter, which requires a
detailed review of the outside audit firm at least every
10 years. At a meeting held on November 22, 2004, the
American Express Audit Committee approved the future
engagement of PricewaterhouseCoopers LLP as the
independent registered public accountants for the year ended
December 31, 2005 and dismissed Ernst & Young LLP for 2005.
This decision also applied to our company. Ernst & Young LLP
continued as auditors of American Express and our company
for the year ended December 31, 2004.
Ernst & Young LLP’s reports on our Consolidated Financial
Statements for the year ended December 31, 2004 did not
contain an adverse opinion or a disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope, or
accounting principles.
In connection with the audits of our Consolidated Financial
Statements for the year ended December 31, 2004, there
were no disagreements with Ernst & Young LLP on any matters
of accounting principles or practices, financial statement
disclosure or auditing scope or procedure, which, if not resolved
to the satisfaction of Ernst & Young LLP, would have caused
Ernst & Young LLP to make reference to the matter in their
report. During the two most recent years and subsequent
interim period preceding the dismissal of Ernst & Young LLP,
there were no “reportable events” (as defined in Regulation
S-K, Item 304(a)(1)(v)).
In connection with our separation from American Express, on
February 18, 2005, the American Express Audit Committee of
its Board of Directors dismissed PricewaterhouseCoopers LLP
and engaged Ernst & Young LLP to be the independent
registered public accountants of our company for the year
ended December 31, 2005. PricewaterhouseCoopers LLP
continued as the independent registered public accounting firm
for the consolidated financial statements of American Express
for 2005.
PricewaterhouseCoopers LLP did not issue any report on our
Consolidated Financial Statements for either of 2005 or 2004.
During the period from November 22, 2004 and through
February 18, 2005, there were no disagreements between our
company and PricewaterhouseCoopers LLP on any matters of
accounting principles or practices, financial statement
disclosures or auditing scope or procedures, which, if not
resolved to the satisfaction of PricewaterhouseCoopers LLP,
would have caused PricewaterhouseCoopers LLP to make
reference to the matter in their report. There have been no
“reportable events,” as defined in Item 304(a)(1)(v) of
Regulation S-K, during the period between November 22, 2004
to February 18, 2005.