KeyBank 2014 Annual Report Download - page 121
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Report of Ernst & Young LLP, Independent Registered Public Accounting Firm
The Board of Directors and Shareholders of KeyCorp
We have audited the accompanying consolidated balance sheets of KeyCorp as of December 31, 2014 and 2013,
and the related consolidated statements of income, comprehensive income, changes in equity, and cash flows for
each of the three years in the period ended December 31, 2014. These financial statements are the responsibility
of KeyCorp’s management. Our responsibility is to express an opinion on these financial statements based on our
audits.
We conducted our audits 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 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 KeyCorp at December 31, 2014 and 2013, and the consolidated results of its operations and
its cash flows for each of the three years in the period ended December 31, 2014, 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), KeyCorp’s internal control over financial reporting as of December 31, 2014, based on criteria
established in Internal Control–Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission (2013 framework), and our report dated March 2, 2015 expressed an unqualified
opinion thereon.
Cleveland, Ohio
March 2, 2015
108