ADT 2002 Annual Report Download - page 43

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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors
and Shareholders of Tyco International Ltd.
In our opinion, the accompanying consolidated balance sheets and the related consolidated
statements of operations, of shareholders’ equity and of cash flows present fairly, in all material
respects, the financial position of Tyco International Ltd. and its subsidiaries at September 30, 2002 and
2001, and the results of their operations and their cash flows for each of the three years in the period
ended September 30, 2002, in conformity with accounting principles generally accepted in the United
States of America. In addition, in our opinion, the accompanying financial statement schedule presents
fairly, in all material respects, the information set forth therein when read in conjunction with the
related consolidated financial statements. These financial statements and financial statement schedule
are the responsibility of the Company’s management; our responsibility is to express an opinion on
these financial statements and financial statement schedule based on our audits. We conducted our
audits of these statements in accordance with auditing standards generally accepted in the United
States of America, which 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, assessing
the accounting principles used and significant estimates made by management, and evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
As discussed in Note 16, the Company adopted Statement of Financial Accounting Standards
No. 142, Goodwill and Other Intangible Assets, effective October 1, 2001.
As described under the heading ‘‘Restatement’’ in Note 1, the Company has restated its previously
issued Consolidated Financial Statements.
PRICEWATERHOUSECOOPERS LLP
Boston, Massachusetts
New York, New York
December 23, 2002
(except for the matters
disclosed under the heading ‘‘Restatement’’
in Note 1, Note 3 and the 4th paragraph of Note 17
as to which the date is
July 28, 2003)
41