Qualcomm 1999 Annual Report Download - page 65

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61
QUALCOMM Incorporated
REPORT OF INDEPENDENT ACCOUNTANTS
TO THE BOARD OF DIRECTORS AND STOCKHOLDERS OF QUALCOMM INCORPORATED
In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, of cash flows and of stock-
holders’ equity present fairly, in all material respects, the financial position of QUALCOMM Incorporated and its subsidiaries at September 30,
1999 and 1998, and the results of their operations and their cash flows for each of the three years in the period ended September 30, 1999 in con-
formity with generally accepted accounting principles. 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 generally accepted auditing standards, 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 evaluating
the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above.
San Diego, California
November 10, 1999