SunTrust 2007 Annual Report Download - page 87

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Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders of SunTrust Banks, Inc.
We have audited the accompanying consolidated balance sheet of SunTrust Banks Inc. and subsidiaries (the Company) as of
December 31, 2007, and the related consolidated statements of income, shareholders’ equity, and cash flows for the year then
ended. 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 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 audit provides 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 SunTrust Banks, Inc. and subsidiaries at December 31, 2007 and the consolidated results of their operations and
their cash flows for the year ended December 31, 2007, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 1 to the consolidated financial statements, the Company adopted Statement of Financial Accounting
Standards No. 157, Fair Value Measurements and Statement of Financial Accounting Standards No.159, The Fair Value
Option for Financial Assets and Financial Liabilities, as of January 1, 2007.
As discussed in Note 1 to the consolidated financial statements, the Company adopted the provisions of Financial
Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes as of January 1, 2007.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
SunTrust Banks, Inc.’s internal control over financial reporting as of December 31, 2007, based on criteria established in
Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and
our report dated February 19, 2008 expressed an unqualified opinion thereon.
Atlanta, Georgia
February 19, 2008
75