Adobe 2003 Annual Report Download - page 62

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62
INDEPENDENT AUDITORS’ REPORT
To the Board of Directors and Stockholders of Adobe Systems Incorporated:
We have audited the accompanying consolidated financial statements of Adobe Systems Incorporated and
subsidiaries as listed in the accompanying index. In connection with our audits of the consolidated financial
statements, we also have audited the accompanying financial statement schedule. 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 consolidated 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, the consolidated financial statements referred to above present fairly, in all material respects, the
financial position of Adobe Systems Incorporated and subsidiaries as of November 28, 2003 and November 29,
2002, and the results of their operations and their cash flows for each of the years in the three-year period ended
November 28, 2003, in conformity with accounting principles generally accepted in the United States of America.
Also in our opinion, the related financial statement schedule, when considered in relation to the basic consolidated
financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.
As discussed in Note 1 of the Notes to Consolidated Financial Statements, the Company changed its method of
accounting for goodwill in 2003.
KPMG LLP
Mountain View, California
December 9, 2003