Polaris 2008 Annual Report Download - page 54

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Report Of Independent Registered Public Accounting Firm
on Consolidated Financial Statements
The Board of Directors and Shareholders
Polaris Industries Inc.
We have audited the accompanying consolidated balance sheets of Polaris Industries Inc. and subsidiaries (the
Company) as of December 31, 2008 and 2007, and the related consolidated statements of income, shareholders’
equity and comprehensive income, and cash flows for each of the three years in the period ended December 31,
2008. Our audits also included the financial statement schedule listed in the index at Item 15. These financial
statements and the schedule are the responsibility of the Company’s management. Our responsibility is to express
an opinion on these financial statements and the 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 Polaris Industries Inc. and subsidiaries at December 31, 2008 and 2007, and
the consolidated results of their operations and their cash flows for each of the three years in the period ended
December 31, 2008, 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.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Polaris Industries Inc.’s internal control over financial reporting as of December 31, 2008, based on
criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Orga-
nizations of the Treadway Commission, and our report dated February 26, 2009, expressed an unqualified opinion
thereon.
Minneapolis, Minnesota
February 26, 2009
36