Time Warner Cable 2006 Annual Report Download - page 152

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders of
Time Warner Cable Inc.
We have audited the accompanying consolidated balance sheets of Time Warner Cable Inc. (the “Company”)
as of December 31, 2006 and 2005, and the related consolidated statements of operations, shareholders’ equity and
cash flows for each of the three years in the period ended December 31, 2006. Our audits also included the Financial
Statement Schedule listed in the Index at Item 15(a). 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 Time Warner Cable Inc. at December 31, 2006 and 2005, and the consolidated
results of its operations and its cash flows for each of the three years in the period ended December 31, 2006, 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 Notes 1 and 3, the Company adopted Financial Accounting Standards Board Statement
No. 123R, Share-Based Payment, as of January 1, 2006 using the modified-retrospective application method and
adopted Financial Accounting Standards Board Statement No. 158, Employers’ Accounting for Defined Benefit
Pension and Other Postretirement Benefits as of December 31, 2006.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of Time Warner Cable Inc.’s internal control over financial reporting as of
December 31, 2006, based on criteria established in Internal Control — Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 22, 2007
expressed an unqualified opinion thereon.
ERNST & YOUNG LLP
Charlotte, North Carolina
February 22, 2007
147