Sallie Mae 2013 Annual Report Download - page 142
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Report of Independent Registered Public Accounting Firm
To the Board of Directors and Stockholders of SLM Corporation:
In our opinion, the consolidated statements of income, comprehensive income, stockholders’ equity and cash
flows for the year ended December 31, 2011, before the effects of the adjustments to retrospectively reflect the
discontinued operations described in Note 16, present fairly, in all material respects, the results of operations and
cash flows of SLM Corporation and its subsidiaries for the year ended December 31, 2011, in conformity with
accounting principles generally accepted in the United States of America (the 2011 financial statements before
the effects of the adjustments discussed in Note 16 are not presented herein). 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 audit. We conducted our audit, before the effects of the adjustments described above, of
these statements 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, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
We were not engaged to audit, review, or apply any procedures to the adjustments to retrospectively reflect the
discontinued operations described in Note 16 and accordingly, we do not express an opinion or any other form of
assurance about whether such adjustments are appropriate and have been properly applied. Those adjustments
were audited by other auditors.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
McLean, VA
February 27, 2012
F-4