INTL FCStone 2014 Annual Report Download - page 70

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INTL FCSTONE INC. Form 10K54
PART II
ITEM 8 Financial Statements and Supplementary Data
ITEM 8 Financial Statements and Supplementary Data
Report of Independent Registered Public Accounting Firm
e Board of Directors and Stockholders
INTL FCStone Inc.:
We have audited INTL FCStone Inc.’s (the Company) internal
control over financial reporting as of September 30, 2014, based
on criteria established in Internal Control – Integrated Framework
(1992) issued by the Committee of Sponsoring Organizations
of the Treadway Commission. e Company’s management is
responsible for maintaining effective internal control over financial
reporting and for its assessment of the effectiveness of internal
control over financial reporting, included in the accompanying
Management’s Report on Internal Control over Financial Reporting
appearing under Item 9A of the Company’s September 30, 2014
annual report on Form 10-K. Our responsibility is to express
an opinion on the Company’s internal control over financial
reporting based on our audit.
We conducted our audit in accordance with the standards of
the Public Company Accounting Oversight Board (United
States). ose standards require that we plan and perform the
audit to obtain reasonable assurance about whether effective
internal control over financial reporting was maintained
in all material respects. Our audit included obtaining an
understanding of internal control over financial reporting,
assessing the risk that a material weakness exists, and testing
and evaluating the design and operating effectiveness of internal
control based on the assessed risk. Our audit also included
performing such other procedures as we considered necessary
in the circumstances. We believe that our audit provides a
reasonable basis for our opinion.
A company’s internal control over financial reporting is a
process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with
generally accepted accounting principles. A company’s internal
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company’s assets that
could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
In our opinion, the Company maintained, in all material
respects, effective internal control over financial reporting as of
September 30, 2014, based on criteria established in Internal
Control– Integrated Framework (1992) issued by the Committee
of Sponsoring Organizations of the Treadway Commission.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United
States), the consolidated balance sheets of the Company and
subsidiaries as of September 30, 2014 and 2013, and the related
consolidated statements of income, comprehensive income,
cash flows, and stockholders’ equity for each of the years in
the three-year period ended September 30, 2014, as well as
the accompanying financial statement schedule. Our report
dated December 10, 2014 expressed an unqualified opinion on
those consolidated financial statements and the accompanying
financial statement schedule.
/s/ KPMG LLP
Kansas City, Missouri
December 10, 2014