NetSpend 2011 Annual Report Download - page 67
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Table of Contents
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
NetSpend Holdings, Inc.:
We have audited the accompanying consolidated balance sheets of NetSpend Holdings, Inc. (the "Company") as of December 31, 2011
and 2010, and the related consolidated statements of operations, changes in stockholders' equity, and cash flows for each of the years in the
three-year period ended December 31, 2011. In connection with our audits of the consolidated financial statements, we also have audited
financial statement schedule II. These consolidated financial statements and financial statement schedule are the responsibility of the
Company's management. Our responsibility is to express an opinion on these consolidated financial statements and financial statement
schedule 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 consolidated financial statements referred to above present fairly, in all material respects, the financial position of
NetSpend Holdings, Inc. as of December 31, 2011 and 2010, and the results of its operations and its cash flows for each of the years in the
three-
year period ended December 31, 2011, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related
financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all
material respects, the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), NetSpend
Holdings Inc.'s internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control—Integrated
Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated February 24,
2012 expressed an unqualified opinion on the effectiveness of the Company's internal control over financial reporting.
/s/ KPMG LLP
Austin, Texas
February 24, 2012
61