FairPoint Communications 2004 Annual Report Download - page 74

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The Board of Directors
FairPoint Communications, Inc.:
We have audited the accompanying consolidated balance sheets of FairPoint Communications, Inc. and subsidiaries (the Company) as
of December 31, 2004 and 2003, and the related consolidated statements of operations, stockholders' equity (deficit), comprehensive income
(loss), and cash flows for each of the years in the three-year period ended December 31, 2004. These consolidated financial statements are
the responsibility of FairPoint Communications, Inc.'s management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.
We conducted our audits 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 consolidated financial statements are
free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall consolidated 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 the
Company as of December 31, 2004 and 2003, and the results of their operations and their cash flows for each of the years in the three-year
period ended December 31, 2004 in conformity with accounting principles generally accepted in the United States of America.
As described in notes 1 and 8 to the consolidated financial statements, the Company adopted the provisions of Statement of Financial
Accounting Standards (SFAS) No. 150,  
effective July 1, 2003.
/s/ KPMG LLP
Omaha, Nebraska
March 10, 2005
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