Huntington National Bank 2003 Annual Report Download - page 98

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REPORT OF MANAGEMENT
The management of Huntington is responsible for the financial information and representations contained in the consolidated
financial statements and other sections of this report. The consolidated financial statements have been prepared in conformity with
accounting principles generally accepted in the United States. In all material respects, they reflect the substance of transactions that
should be included based on informed judgments, estimates, and currently available information.
Huntington maintains accounting and other control systems that, in the opinion of management, provide reasonable assurance that
(1) transactions are properly authorized, (2) the assets are properly safeguarded, and (3) transactions are properly recorded and
reported to permit the preparation of the financial statements in conformity with accounting principles generally accepted in the
United States. The systems of internal accounting controls include the careful selection and training of qualified personnel, appropriate
segregation of responsibilities, communication of written policies and procedures, and a broad program of internal audits. The costs of
the controls are balanced against the expected benefits. During 2003, the audit/risk committee of the board of directors met regularly
with management, Huntington’s internal auditors, and the independent auditors, Ernst & Young LLP, to review the scope of the audits
and to discuss the evaluation of internal accounting controls and financial reporting matters. The independent and internal auditors
have free access to and meet confidentially with the audit/risk committee to discuss appropriate matters. Also, Huntington maintains a
disclosure review committee. This committee’s purpose is to design and maintain disclosure controls and procedures to ensure that
material information relating to the financial and operating condition of Huntington is properly reported to its chief executive officer,
chief financial officer, internal auditors, and the audit/risk committee of the board of directors in connection with the preparation and
filing of periodic reports and the certification of those reports by the chief executive officer and the chief financial officer.
The independent auditors are responsible for expressing an informed judgment as to whether the consolidated financial statements
present fairly, in accordance with accounting principles generally accepted in the United States, the financial position, results of
operations, and cash flows of Huntington. They obtained an understanding of Huntington’s internal accounting controls and
conducted such tests and related procedures as they deemed necessary to provide reasonable assurance, giving due consideration to
materiality, that the consolidated financial statements contain neither misleading nor erroneous data.
Thomas E. Hoaglin
Chairman, President and Chief Executive Officer
Michael J. McMennamin
Vice Chairman, Chief Financial Officer, and Treasurer
96 HUNTINGTON BANCSHARES INCORPORATED