Motorola 2001 Annual Report Download - page 28

26 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, 2001 and 2000, 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, 2001, appearing in the appendix to the proxy statement for the 2002 Annual Meeting
of Stockholders of Motorola, Inc. (not presented herein); and in our report dated January 18, 2002, also appearing
in that proxy statement 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
stated, in all material respects, in relation to the consolidated financial statements from which it has been derived.
KPMG LLP
Chicago, Illinois
January 18, 2002
Management’s responsibility for financial statements