TeleNav 2010 Annual Report Download - page 76

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of TeleNav, Inc:
We have audited the accompanying consolidated balance sheets of TeleNav, Inc. as of June 30, 2010 and
2009, and the related consolidated statements of income, convertible preferred stock and stockholders’ equity
(deficit) and cash flows for each of the three years in the period ended June 30, 2010. Our audits also included
the financial statement schedule listed in Part IV, Item 15.(a). 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. We were not engaged to perform an
audit of the Company’s internal control over financial reporting. Our audits included consideration of internal
control over financial reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion. An audit also 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 our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the consolidated financial position of TeleNav, Inc. at June 30, 2010 and 2009, and the consolidated results of its
operations and its cash flows for each of the three years in the period ended June 30, 2010, 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 8 to the consolidated financial statements, the Company changed its method of
accounting for uncertain tax positions effective July 1, 2009.
/s/ Ernst & Young LLP
San Francisco, California
September 24, 2010
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