Adaptec 2001 Annual Report Download - page 52

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52
Independent Auditors Report
The Board of Directors of PMC-Sierra, Inc.
We have audited the accompanying consolidated balance sheets of PM C-Sierra, Inc. as of
December 31, 2001 and 2000 and the related consolidated statements of operations,
stockholders’ equity and cash flows for each of the three years in the period ended December
31, 2001. Our audits also included the financial statement schedule listed in the index at Item
14(a). These consolidated 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 in accordance with auditing standards generally accepted in the
United States of America. 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, such consolidated financial statements present fairly, in all material respects,
the consolidated financial position of PMC-Sierra, Inc. at December 31, 2001 and 2000, and the
consolidated results of its operations and its cash flows for each of the three years in the period
ended December 31, 2001, in conformity with accounting principles generally accepted in the
United States of America. Also, in our opinion, the related financial statement schedule, w hen
considered in relation to the basic consolidated financial statements taken as a whole, presents
fairly in all material respects the information set forth therein.
/ s/ DELOITTE & TOUCHE LLP
Vancouver, British Columbia
January 18, 2002