Fannie Mae 2005 Annual Report Download - page 223

restate our previously reported audited consolidated financial statements for the years ended December 31, 2003
and 2002. We also restated our previously reported December 31, 2001 consolidated balance sheet to reflect
corrected items that relate to prior periods. Deloitte & Touche audited these restated consolidated financial
statements, as well as our consolidated financial statements for the year ended December 31, 2004.
The following table sets forth the estimated or actual fees for services provided by our independent registered
public accounting firm Deloitte & Touche for the 2005 and 2004 audits. During 2004, KPMG reviewed our
interim financial statements for the quarters ended March 31, 2004 and June 30, 2004. KPMG did not report
on our financial statements for the year ended December 31, 2004, but was in the process of auditing the 2004
information when the Audit Committee dismissed the firm. The fees for services provided by KPMG in 2004
are not reflected in the table below.
Description of Fees 2005 2004
(1)
For the Year Ended
December 31,
Audit fees
(2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $57,395,000 $203,375,000
Audit-related fees
(3)
............................................ — —
Tax fees
(4)
.................................................. — —
All other fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Total fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $57,395,000 $203,375,000
(1)
Amount for 2004 has been updated from the previously estimated amount to reflect actual fees incurred for the 2004
audit.
(2)
For 2004, excludes fees paid or accrued for services provided by KPMG totaling $6,010,604 for preliminary 2004 audit
work. For 2004, amount includes fees paid to Deloitte & Touche for the audit of our consolidated financial statements
for the years 2002 to 2004 as the audits occurred contemporaneously.
(3)
For 2005, excludes $100,000 paid to Deloitte & Touche for an engagement by one of our counterparties to provide a
comfort letter on a REMIC transaction. For 2004, excludes fees paid or accrued for services provided by KPMG
totaling $4,721,399 related to the OFHEO special examination, $3,113,725 for REMIC pricing and closing letter fees,
and $317,503 for REMIC payment data validation fees.
(4)
For 2004, excludes fees paid or accrued for services provided by KPMG totaling $735,000 for review of tax accounts,
$3,862,254 for REMIC tax return services, and $23,500 for reimbursable financial advisory fees paid directly to
KPMG by Fannie Mae on behalf of certain of our officers.
218