FORM 10-K/A GAMCO Investors, Inc. - Gabelli

In our opinion, management’s assessment that GAMCO Investors, Inc. and Subsidiaries did not maintain effective internal control over financial reporting as of December 31,
2006, is fairly stated, in all material respects, based on the COSO criteria. Also, in our opinion, because of the effect of the material weaknesses described above on the
achievement of the control criteria, GAMCO Investors, Inc. and Subsidiaries has not maintained effective internal control over financial reporting as of December 31, 2006, based
on the COSO criteria.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated statements of financial condition of
GAMCO Investors, Inc. and Subsidiaries as of December 31, 2006 and 2005, and the related consolidated statements of income, stockholders’ equity, and cash flows for each of
the three years in the period ended December 31, 2006, of GAMCO Investors, Inc. and Subsidiaries and our report dated March 16, 2007 (except for Note A Restatement, as to
which the date is August 8, 2007), expressed an unqualified opinion thereon.
New York, New York
March 16, 2007
except for Note A Restatement, in the consolidated financial statements as to which the date is
August 8, 2007
ERNST & YOUNG LLP
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