IBM 1999 Annual Report Download - page 53

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report of independent accountants
International Business Machines Corporation
and Subsidiary Companies
To the Stockholders and Board of Directors of International
Business Machines Corporation:
In our opinion, the accompanying consolidated financial
statements, appearing on pages 64 through 93, present fairly,
in all material respects, the financial position of International
Business Machines Corporation and its subsidiaries at Dec-
ember 31, 1999 and 1998, and the results of their operations
and their cash flows for each of the three years in the period
ended December 31, 1999, in conformity with accounting
principles generally accepted in the United States. 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 audits. We conducted
our audits of these statements in accordance with auditing
standards generally accepted in the United States, which
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, assessing the accounting principles used
and significant estimates made by management, and evaluat-
ing the overall financial statement presentation. We believe
that our audits provide a reasonable basis for the opinion
expressed above.
PricewaterhouseCoopers LLP
New York, New York
January 19, 2000
51