Motorola 2000 Annual Report Download - page 22

20 MOTOROLA, INC. AND SUBSIDIARIES
Independent auditors’ report
Management is responsible for the preparation, integrity and objectivity of the consolidated financial
statements and other financial information presented in this report. The accompanying consolidated
financial statements were prepared in accordance with accounting principles generally accepted in the
United States of America, applying certain estimates and judgments as required.
Motorola’s internal controls are designed to provide reasonable assurance as to the integrity and
reliability of the financial statements and to adequately safeguard, verify and maintain accountability
of assets. Such controls are based on established written policies and procedures, are implemented
by trained, skilled personnel with an appropriate segregation of duties and are monitored through a
comprehensive internal audit program. These policies and procedures prescribe that the Company
and all its employees are to maintain the highest ethical standards and that its business practices
throughout the world are to be conducted in a manner which is above reproach.
KPMG LLP, independent auditors, are retained to audit Motorola’s financial statements. Their
accompanying report is based on audits conducted in accordance with auditing standards generally
accepted in the United States of America, which include the consideration of the Company’s internal
controls to establish a basis for reliance thereon in determining the nature, timing and extent of
audit tests to be applied.
The Board of Directors exercises its responsibility for these financial statements through its Audit
and Legal Committee, which consists entirely of independent non-management Board members. The
Audit and Legal Committee meets periodically with the independent auditors and with the Company’s
internal auditors, both privately and with management present, to review accounting, auditing,
internal controls and financial reporting matters.
Christopher B. Galvin Carl F. Koenemann
Chairman of the Board and Chief Executive Officer Executive Vice President and Chief Financial Officer
The Board of Directors and stockholders of Motorola, Inc.:
We have audited, in accordance with auditing standards generally accepted in the United States of
America, the consolidated balance sheets of Motorola, Inc. and subsidiaries as of December 31,
2000 and 1999, and the related consolidated statements of operations, stockholders’ equity, and
cash flows for each of the years in the three-year period ended December 31, 2000, appearing in
the appendix to the proxy statement for the 2001 Annual Meeting of Stockholders of Motorola, Inc.
(not presented herein); and in our report dated January 10, 2001, also appearing in that proxy state-
ment appendix, we expressed an unqualified opinion on those consolidated financial statements.
In our opinion, the information set forth in the accompanying condensed consolidated financial
statements is fairly presented, in all material respects, in relation to the consolidated financial
statements from which it has been derived.
KPMG LLP
Chicago, Illinois
January 10, 2001
Management’s responsibility for financial statements