Oracle 2011 Annual Report Download - page 87

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REPORT OF ERNST & YOUNG LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of Oracle Corporation
We have audited the accompanying consolidated balance sheets of Oracle Corporation as of May 31, 2011 and
2010, and the related consolidated statements of operations, statements of equity, and cash flows for each of the
three years in the period ended May 31, 2011. 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.
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 financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Oracle Corporation at May 31, 2011 and 2010, and the consolidated results of its operations
and its cash flows for each of the three years in the period ended May 31, 2011, 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.
As discussed in Note 1 to the consolidated financial statements, under the heading Business Combinations, the
Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
805, Business Combinations, effective June 1, 2009.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Oracle Corporation’s internal control over financial reporting as of May 31, 2011, based on
criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated June 27, 2011 expressed an unqualified opinion
thereon.
/s/ ERNST & YOUNG LLP
San Francisco, California
June 27, 2011
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