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Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of Telenav, Inc.
We have audited the accompanying consolidated balance sheets of Telenav, Inc. as of June 30, 2014 and the related consolidated statements of
operations, comprehensive income (loss), stockholders’
equity, and cash flows for each of the two years in the period ended June 30, 2014. Our
audit 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 audit.
We conducted our audit 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 audit provides 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 Telenav,
Inc. at June 30, 2014, and the consolidated results of its operations and its cash flows for each of the two years in the period ended June 30,
2014, 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.
F-3
/s/ Ernst & Young LLP
San Jose, California
August 22, 2014
except for Notes 5 and 13, as to which the date is
August 24, 2015