Expedia 2005 Annual Report Download - page 59

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
Expedia, Inc.
We have audited the accompanying consolidated balance sheet of Expedia, Inc. (the Company) as of
December 31, 2005, and the related consolidated statements of income, stockholders' equity and
comprehensive income and cash flows for the year ended December 31, 2005. 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 audit.
We conducted our audit in accordance with the standards of the Public Company Accounting
Oversight Board (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. We were
not engaged to perform an audit of the Company's internal control over financial reporting. Our audit
included consideration of internal control over financial reporting as a basis for designing audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements, assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
consolidated financial position of Expedia, Inc. at December 31, 2005, and the consolidated results of its
operations and its cash flows for the year ended December 31, 2005, in conformity with accounting
principles generally accepted in the United States.
/s/ Ernst & Young LLP
Seattle, Washington
March 27, 2006
F-2