Garmin 2009 Annual Report Download - page 82

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ReportofErnst&YoungLLP
IndependentRegisteredPublicAccountingFirm
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TheBoardofDirectorsandShareholders
GarminLtd.
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WehaveauditedtheaccompanyingconsolidatedbalancesheetsofGarminLtd.andSubsidiaries(theCompany)as
ofDecember26,2009andDecember27,2008andtherelatedconsolidatedstatementsofincome,stockholders'
equity,andcashflowsforeachofthethreeyearsintheperiodendedDecember26,2009.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.
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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.
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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26,2009andDecember27,2008andthe
consolidatedresultsoftheiroperationsandtheircashflowsforeachofthethreeyearsintheperiodended
December26,2009,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.
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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26,2009,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24,2010expressedanunqualifiedopinionthereon.
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
/s/Ernst&YoungLLP
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
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KansasCity,Missouri
February24,2010
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