Garmin 2007 Annual Report Download - page 79

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53
Report of Ernst & Young LLP
Independent Registered Public Accounting Firm
The Board of Directors and Shareholders
Garmin Ltd.
We have audited the accompanying consolidated balance sheets of Garmin Ltd. and Subsidiaries (the Company) as
of December 29, 2007 and December 30, 2006 and the related consolidated statements of income, stockholders'
equity, and cash flows for each of the three years in the period ended December 29, 2007. Our audits also included
the financial statement schedule listed in the index at Item 15(a)(2). These financial statements and schedule are the
responsibility of the Company's management. Our responsibility is to express an opinion on these financial
statements and schedule 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 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 consolidated
financial position of Garmin Ltd. and Subsidiaries at December 29, 2007 and December 30, 2006 and the
consolidated results of their operations and their cash flows for each of the three years in the period ended December
29, 2007, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related
financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents
fairly in all material respects the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), Garmin Ltd.’s internal control over financial reporting as of December 29, 2007, based on criteria
established in the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission and our report dated February 25, 2008 expressed an unqualified opinion thereon.
/s/ Ernst & Young LLP
Kansas City, Missouri
February 25, 2008