Honda 2007 Annual Report Download - page 121

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119
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
Honda Motor Co., Ltd.:
We have audited the accompanying consolidated balance sheets of Honda Motor Co., Ltd. and subsidiaries as of March 31,
2006 and 2007, and the related consolidated statements of income, stockholders’ equity and comprehensive income, and
cash flows for each of the years in the three-year period ended March 31, 2007, expressed in Japanese yen. These
consolidated financial statements are the responsibility of the Company’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
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 consolidated financial statements referred to above present fairly, in all material respects, the financial
position of Honda Motor Co., Ltd. and subsidiaries as of March 31, 2006 and 2007, and the results of their operations and
their cash flows for each of the years in the three-year period ended March 31, 2007 in conformity with U.S. generally
accepted accounting principles.
As described in Note 13 to the consolidated financial statements, the Company adopted the provisions of Statement of
Financial Accounting Standards No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans
- an amendment of FASB Statements of No. 87,88,106 and 132(R) as of March 31, 2007. As described in Note 1(u) to the
consolidated financial statements, the Company changed its method of quantifying errors as of March 31, 2007. Also as
further described in Note 3, the Company made certain classification adjustments to its consolidated financial statements as
of and for the years ended March 31, 2006 and 2005.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
the effectiveness of the Company’s internal control over financial reporting as of March 31, 2007, based on criteria
established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission , and our report dated July 17, 2007 expressed an unqualified opinion on management’s assessment
of, and the effective operation of, internal control over financial reporting.
The accompanying consolidated financial statements as of and for the year ended March 31, 2007 have been translated into
United States dollars solely for the convenience of the reader. We have recomputed the translation and, in our opinion, the
consolidated financial statements expressed in yen have been translated into dollars on the basis set forth note 2 to the
consolidated financial statements.
Tokyo, Japan
July 17, 2007