Who are the new and former auditors for the American Express Incentive Savings Plan?

PricewaterhouseCoopers LLP (PwC) has been appointed as the new independent registered public accountants for the fiscal year ending December 31, 2005. Ernst & Young LLP (E&Y) was the former auditor and has completed their engagement for the fiscal year ending December 31, 2004.

Were there any disputes or disagreements with the former auditor (E&Y)?

No, the filing explicitly states that there were no disagreements between American Express and E&Y on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

Does this change in auditors indicate any financial concerns with the American Express Incentive Savings Plan?

No, the filing indicates a routine change in auditors and explicitly states no disagreements or reportable events. Such changes are common in corporate accounting practices and do not, on their own, suggest financial irregularities. The auditors confirmed their agreement with the statements made in the filing.

AXP 8-K SEC Disclosure — Jun 17, 2005

Q: What is the main purpose of this 8-K/A filing?

This filing is an amendment to a previous 8-K report to update information concerning the independent auditors for the American Express Incentive Savings Plan, specifically in preparation for the filing of the Plan's Annual Report on Form 11-K.

Summary

This filing is an amendment to a previous Current Report on Form 8-K, originally filed on November 22, 2004, and subsequently amended on December 8, 2004. The primary purpose of this amendment is to update information regarding the independent auditors for the American Express Incentive Savings Plan as of the filing of the Plan's Annual Report on Form 11-K. Investors should note that there have been changes in the Plan's certifying accountant. While Ernst & Young LLP (E&Y) completed their audit for the fiscal years ending December 31, 2004 and 2003, PricewaterhouseCoopers LLP (PwC) has been appointed as the new independent registered public accountants for the Plan for the fiscal year ending December 31, 2005. The report clarifies that the dismissal of E&Y and the appointment of PwC did not involve any disagreements on accounting principles, financial statement disclosures, or auditing procedures. Furthermore, there were no reportable events or prior consultations with PwC regarding potential issues during the relevant periods. An exhibit containing a letter from E&Y confirming these statements is also included.

Key Highlights

1American Express Company's Incentive Savings Plan has appointed PricewaterhouseCoopers LLP (PwC) as its new independent registered public accountants for the fiscal year ending December 31, 2005.
2Ernst & Young LLP (E&Y) was dismissed as the Plan's auditors for the 2005 fiscal year, having completed their audit for the 2004 fiscal year.
3The change in auditors is an update related to the Plan's Annual Report on Form 11-K.
4There were no disagreements between American Express and E&Y regarding accounting principles, financial statement disclosures, or auditing procedures.
5No 'reportable events' (as defined by SEC regulations) occurred during the relevant periods.
6American Express did not consult with PwC regarding any accounting or auditing matters prior to PwC's appointment.
7An explanatory letter from Ernst & Young LLP confirming these statements is filed as an exhibit.

AMERICAN EXPRESS CO 8-K/A Report, Exhibit Filing (Jun 17, 2005)

Summary

Key Highlights

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