Digital River 2002 Annual Report Download - page 48

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42
The following report is a copy of a report previously issued by Arthur Andersen LLP (“Andersen”), which has not been reissued by Andersen.
Certain financial information for each of the two years in the period ended December 31, 2001 was not reviewed by Andersen and includes:
(i) reclassifications to conform to our 2002 financial statement presentation and (ii) additional disclosures to conform with new accounting
pronouncements and SEC rules and regulations issued during such fiscal year.
R epor t of indepe ndent public ac count ants
To Digital River, Inc.:
We have audited the accompanying consolidated balance sheets of Digital River, Inc. (a Delaware corporation) and Subsidiaries 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. These financial statements are the responsibility of the Company’ s management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the 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 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 financial statements referred to above present fairly, in all material respects, the financial position of Digital River, Inc. and
Subsidiaries as of December 31, 2001 and 2000, and the results of their operations and their 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.
Arthur Andersen LLP
Minneapolis, Minnesota,
January 28, 2002