American Express 2006 Annual Report Download - page 70

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[ 68 ]
report of independent registered public accounting fi rm
REPORT OF INDEPENDENT
REGISTERED PUBLIC
ACCOUNTING FIRM
The Board of Directors and Shareholders of
American Express Company
We have audited the accompanying consolidated
statements of income, shareholders’ equity, and cash
flows of American Express Company for the year ended
December 31, 2004. 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 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 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 audit provides a reasonable basis for
our opinion.
In our opinion, the financial statements referred
to above present fairly, in all material respects, the
consolidated results of the Company’s operations and
its cash flows for the year ended December 31, 2004,
in conformity with U.S. generally accepted accounting
principles.
We also have audited, in accordance with the
standards of the Public Company Accounting Oversight
Board (United States), the effectiveness of American
Express Company’s internal control over financial
reporting as of December 31, 2004, based on criteria
established in Internal Control — Integrated Framework
issued by the Committee of Sponsoring Organizations
of the Treadway Commission and our report dated
February 18, 2005 (not included herein) expressed an
unqualified opinion thereon.
New York, New York
February 18, 2005, except for notes 2 and 19, as to which
the date is February 27, 2006