Delta Airlines 2002 Annual Report Download - page 24
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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Information required by this item is set forth under "Market Risks
Associated With Financial Instruments" on pages 23-24, and in Notes 1, 2, 3 and
4 of the Notes to the Consolidated Financial Statements on pages 31-41 of
Delta's 2002 Annual Report to Shareowners, and is incorporated by reference.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Information required by this item is set forth on pages 26-67 of
Delta's 2002 Annual Report to Shareowners, and is incorporated by reference.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
The Audit Committee of Delta's Board of Directors annually considers
and recommends to the Board the selection of Delta's independent auditors. As
recommended by the Audit Committee, the Board of Directors on March 6, 2002
decided to no longer engage Arthur Andersen LLP ("Andersen") as Delta's
independent auditors and engaged Deloitte & Touche LLP to serve as Delta's
independent auditors for 2002. The appointment of Deloitte & Touche LLP as
independent auditors for 2002 was ratified by Delta's shareowners at the 2002
annual meeting.
Andersen's reports on Delta's consolidated financial statements for the
2001 and 2000 fiscal years did not contain an adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty, audit scope or
accounting principles.
During Delta's 2001 and 2000 fiscal years and through March 27, 2002
(the date of Delta's Form 10-K for the year ended December 31, 2001), there were
no disagreements with Andersen on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure which,
if not resolved to Andersen's satisfaction, would have caused them to make
reference to the subject matter in connection with their report on Delta's
consolidated financial statements for such years; and there were no reportable
events, as listed in Item 304(a)(1)(v) of SEC Regulation S-K.
Delta provided Andersen with a copy of the foregoing disclosures.
Attached as Exhibit 16 to this Form 10-K is a copy of Andersen's letter dated
March 27, 2002 stating its agreement with such statements.
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