Thrifty Car Rental 2011 Annual Report Download - page 53

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of
Dollar Thrifty Automotive Group, Inc.:
We have audited the accompanying consolidated balance sheet of Dollar Thrifty Automotive Group,
Inc. and subsidiaries (the “Company”) as of December 31, 2011, and the related consolidated
statements of income, stockholders’ equity and comprehensive income, and cash flows for the year
then ended. Our audit also included the 2011 information presented in the financial statement
schedule listed in the Index at Item 15. These financial statements and schedule are the
responsibility of the Company’s management. Our responsibility is to express an opinion on the
financial statements and schedule 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 2011 financial statements referred to above present fairly, in all material respects,
the consolidated financial position of Dollar Thrifty Automotive Group, Inc. and subsidiaries at
December 31, 2011, and the consolidated results of their operations and their cash flows for the year
then ended, 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 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), the Company’s internal control over financial reporting as of
December 31, 2011, based on the criteria established in Internal Control—Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report
dated February 28, 2012 expressed an unqualified opinion thereon.
/s/ ERNST & YOUNG LLP
Tulsa, Oklahoma
February 28, 2012