Capital One 2001 Annual Report Download - page 43

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The Board of Directors and Stockholders
Capital One Financial Corporation
We have audited the accompanying consolidated balance sheets of
Capital One Financial Corporation as of December 31,2001 and 2000,
and the related consolidated statements of income, changes in
stockholders’equity, and cash flows for each of the three years in the
period ended December 31, 2001. 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 audits.
We conducted our audits in accordance with auditing standards
generally accepted in the 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 audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the consolidated financial position of
Capital One Financial Corporation at December 31, 2001 and
2000, and the consolidated results of its operations and its cash
flows for each of the three years in the period ended December 31,
2001, in conformity with accounting principles generally accepted
in the United States.
report of independent auditors 41
Report of Independent Auditors
McLean,Virginia
January 15,2002, except for Note E
as to which the date is February 6,2002