TCF Bank 2007 Annual Report Download - page 64

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44 | TCF Financial Corporation and Subsidiaries
Item 8. Financial Statements and Supplementary Data
Report of Independent Registered
Public Accounting Firm
The Board of Directors and Stockholders
TCF Financial Corporation:
We have audited the accompanying consolidated statements
of financial condition of TCF Financial Corporation and sub-
sidiaries (the Company) as of December 31, 2007 and 2006,
and the related consolidated statements of income, stock-
holders’ equity, and cash flows for each of the years in the
three-year period ended December 31, 2007. These consol-
idated financial statements are the responsibility of the
Company’s management. Our responsibility is to express an
opinion on these consolidated financial statements based
on our audits.
We conducted our audits 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 manage-
ment, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reason-
able basis for our opinion.
In our opinion, the consolidated financial statements
referred to above present fairly, in all material respects,
the financial position of TCF Financial Corporation and sub-
sidiaries as of December 31, 2007 and 2006, and the results
of their operations and their cash flows for each of the years
in the three-year period ended December 31, 2007, in con-
formity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards
of the Public Company Accounting Oversight Board (United
States), TCF Financial Corporation’s internal control over
financial reporting as of December 31, 2007, based on cri-
teria established in Internal Control – Integrated Framework
issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO), and our report dated
February 14, 2008 expressed an unqualified opinion on the
effectiveness of the Company’s internal control over financial
reporting.
Minneapolis, Minnesota
February 14, 2008