Huntington National Bank 2003 Annual Report Download - page 99

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INDEPENDENT AUDITOR’S REPORT
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
To the Board of Directors and Shareholders, Huntington Bancshares Incorporated
We have audited the accompanying consolidated balance sheets of Huntington Bancshares Incorporated and Subsidiaries as of
December 31, 2003 and 2002, and the related consolidated statements of income, changes in shareholders’ equity, and cash flows for
each of the three years in the period ended December 31, 2003. 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 audits.
We conducted our audits in accordance with auditing standards generally accepted in the 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 financial statements referred to above present fairly, in all material respects, the consolidated financial position of
Huntington Bancshares Incorporated and Subsidiaries at December 31, 2003 and 2002, and the consolidated results of their operations
and their cash flows for each of the three years in the period ended December 31, 2003, in conformity with accounting principles
generally accepted in the United States.
As discussed in Note 2 to the Consolidated Financial Statements, Huntington Bancshares Incorporated and Subsidiaries changed its
method of accounting for variable interest entities in 2003, in accordance with FASB Interpretation No. 46, Consolidation of Variable
Interest Entities. As discussed in Note 1 to the Consolidated Financial Statements, Huntington Bancshares Incorporated and
Subsidiaries changed its method of accounting for amortization of goodwill in 2002 in accordance with FASB Statement No. 142,
Goodwill and Other Intangible Assets.
Columbus, Ohio
January 16, 2004, except for Note 3,
as to which the date is January 27, 2004
HUNTINGTON BANCSHARES INCORPORATED 97