Symantec 2003 Annual Report Download - page 72

70 Symantec 2003
Report of Independent Auditors
The Board of Directors and Stockholders
Symantec Corporation
We have audited the accompanying consolidated balance sheet of Symantec Corporation and subsidiaries (the Company) as of March 31, 2003, and
the related consolidated statements of operations, stockholders’ equity and cash flow for the year ended March 31, 2003. Our audit also included the
financial statement schedule in Schedule II for the year ended March 31, 2003. These consolidated financial statements and schedule are the respon-
sibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements and schedule based on
our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. 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 audit provides a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above presents fairly, in all material respects, the financial position of Symantec
Corporation and subsidiaries as of March 31, 2003, and the results of their operations and their cash flow for the year then ended in conformity with
accounting principles generally accepted in the United States of America. Also, in our opinion, the related financial statement schedule for the year
ended March 31, 2003, 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 described in the Summary of Significant Accounting Policies to the consolidated financial statements, the Company adopted Statement of
Financial Accounting Standard No. 142 (“SFAS No. 142”), Goodwill and Other Intangible Assets, as of April 1, 2002. As described in Note 4, these con-
solidated financial statements have been revised to include the transitional disclosures required by SFAS No. 142. In our opinion, the disclosures for
2002 and 2001 in Note 4 are appropriate. As described in Note 16, the disclosures in the notes to the 2002 and 2001 consolidated financial state-
ments relating to reportable segments have been restated. We audited the adjustments that were applied to restate the disclosures for reportable
segments reflected in the 2002 and 2001 consolidated financial statements. In our opinion, such adjustments are appropriate and have been prop-
erly applied. As described in Note 17, the consolidated financial statements as of March 31, 2002 and for each of the years in the two year period
then ended have been revised to reflect the reclassification of certain amounts to achieve comparability with the 2003 financial statement presenta-
tion. In our opinion, the reclassifications for 2002 and 2001 are appropriate. However, we were not engaged to audit, review, or apply any procedures
to the 2002 or 2001 consolidated financial statements of Symantec Corporation and subsidiaries other than with respect to such aforementioned
disclosures and reclassifications, and accordingly, we do not express an opinion or any other form of assurance on the 2002 or 2001 consolidated
financial statements taken as a whole.
Mountain View, California
April 23, 2003, except for Note 18, which is as of May 13, 2003,
and Notes 4, 16 and 17, which are as of June 11, 2003