Equifax 2002 Annual Report Download - page 68

REPORT OF INDEPENDENT AUDITORS
related tax effects) recognized in those periods related to
goodwill that is no longer being amortized as a result of ini-
tially applying Statement No. 142 (including any related tax
effects) to the Company’s underlying records obtained from
management, (c) agreeing all 2001 separate asset and accu-
mulated amortization balances as disclosed for individual
intangibles to the Company’s underlying accounting records
obtained from management, (d) agreeing all 2001 and 2000
amortization expense disclosures to the Company’s under-
lying accounting records obtained from management and
(e) testing the mathematical accuracy of the reconciliation
of pro forma net income to reported net income.
(iv) The disclosures in Note 3 of the consolidated financial state-
ments of the Company have been revised to disclose addi-
tional detail with respect to the estimated fair value of assets
acquired and liabilities assumed at the acquisition dates. Our
audit procedures with respect to these additional disclosures
in Note 3 included (a) agreeing the estimated fair value of
assets acquired and liabilities assumed at the acquisition
dates balances to the Company’s underlying records obtained
from management, and (b) testing the mathematical accuracy
of the estimated fair value of the net assets acquired and
liabilities assumed information included within the table in
Note 3.
(v) The disclosures in Note 5 of the consolidated financial state-
ments of the Company as of December 31, 2001 and for the
year then ended have been revised to disclose additional
detail with respect to severance and facilities and other
charges reserve and the related activity for 2001. Our audit
procedures with respect to these additional disclosures in
Note 5 included (a) agreeing the severance and facilities and
other charges reserve and the related activity for 2001 to the
Company’s underlying records obtained from management,
and (b) testing the mathematical accuracy of the restatement
within the table in Note 5.
(vi) The disclosures in Note 7 of the consolidated financial state-
ments of the Company as of December 31, 2001 and 2000
with respect to certain deferred tax balances have been
revised to disclose additional detail with respect to the net
operating loss carryforwards of subsidiaries, foreign tax
credits and valuation allowance balances. Our audit proce-
dures with respect to these additional disclosures in Note 7
included (a) agreeing the net operating loss carryforwards
of subsidiaries, foreign tax credits and valuation allowance
balances to the Company’s underlying records obtained from
management, and (b) testing the mathematical accuracy of
the revisions within the table in Note 7.
(vii) The disclosures in Note 9 of the consolidated financial
statements of the Company as of December 31, 2001 and
2000 and for each of the two years in the period then ended
with respect to employee benefit plan information have
been revised to disclose additional detail for the Canadian
Retirement Plan, Supplemental Retirement Plan, and Other
Benefits with respect to benefit obligations, plan assets,
funded status, and amounts recognized in the statement of
financial position as of December 31, 2001 and net pension
(income) expense components for each of the two years in the
period ended December 31, 2001. Our audit procedures with
respect to these additional disclosures in Note 9 included
(a) agreeing the benefit obligations, plan assets and funded
status as of December 31, 2001 and net pension (income)
expense components for each to the two years in the period
ended December 31, 2001 to the Company’s underlying
records obtained from management and (b) testing the
mathematical accuracy of the revisions included in the
tables disclosed in Note 9.
In our opinion, the adjustments and disclosures with respect to the
matters discussed in the preceding paragraphs (i) through (vii) are
appropriate and have been properly applied. However, we were
not engaged to audit, review, or apply any procedures to the 2001
and 2000 consolidated financial statements of the Company other
than with respect to such adjustments and disclosures and,
accordingly, we do not express an opinion or any other form of
assurance on the 2001 and 2000 consolidated financial statements
taken as a whole.
Atlanta, Georgia
January 22, 2003
64