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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TheBoardofDirectorsandStockholders
TripAdvisor,Inc.:
WehaveauditedTripAdvisor,Inc.’s(theCompany)internalcontroloverfinancialreportingasofDecember31,2015,basedoncriteriaestablishedin
InternalControl–IntegratedFramework(2013)issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission(COSO).TripAdvisor,Inc.’s
managementisresponsibleformaintainingeffectiveinternalcontroloverfinancialreportingandforitsassessmentoftheeffectivenessofinternalcontrolover
financialreporting,includedintheaccompanyingManagement’sReportonInternalControloverFinancialReporting.Ourresponsibilityistoexpressanopinion
ontheCompany’sinternalcontroloverfinancialreportingbasedonouraudit.
WeconductedourauditinaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates).Thosestandardsrequirethat
weplanandperformtheaudittoobtainreasonableassuranceaboutwhethereffectiveinternalcontroloverfinancialreportingwasmaintainedinallmaterial
respects.Ourauditincludedobtaininganunderstandingofinternalcontroloverfinancialreporting,assessingtheriskthatamaterialweaknessexists,andtesting
andevaluatingthedesignandoperatingeffectivenessofinternalcontrolbasedontheassessedrisk.Ourauditalsoincludedperformingsuchotherproceduresaswe
considerednecessaryinthecircumstances.Webelievethatourauditprovidesareasonablebasisforouropinion.
Acompany’sinternalcontroloverfinancialreportingisaprocessdesignedtoprovidereasonableassuranceregardingthereliabilityoffinancialreporting
andthepreparationoffinancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccountingprinciples.Acompany’sinternalcontrolover
financialreportingincludesthosepoliciesandproceduresthat(1)pertaintothemaintenanceofrecordsthat,inreasonabledetail,accuratelyandfairlyreflectthe
transactionsanddispositionsoftheassetsofthecompany;(2)providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationof
financialstatementsinaccordancewithgenerallyacceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyin
accordancewithauthorizationsofmanagementanddirectorsofthecompany;and(3)providereasonableassuranceregardingpreventionortimelydetectionof
unauthorizedacquisition,use,ordispositionofthecompany’sassetsthatcouldhaveamaterialeffectonthefinancialstatements.
Becauseofitsinherentlimitations,internalcontroloverfinancialreportingmaynotpreventordetectmisstatements.Also,projectionsofanyevaluationof
effectivenesstofutureperiodsaresubjecttotheriskthatcontrolsmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewith
thepoliciesorproceduresmaydeteriorate.
Inouropinion,TripAdvisor,Inc.maintained,inallmaterialrespects,effectiveinternalcontroloverfinancialreportingasofDecember31,2015,basedon
criteriaestablishedinInternalControl–IntegratedFramework(2013)issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission
(COSO).
Wealsohaveaudited,inaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates),theconsolidatedbalancesheets
ofTripAdvisor,Inc.andsubsidiariesasofDecember31,2015and2014,andtherelatedconsolidatedstatementsofoperations,comprehensiveincome,changesin
stockholders’equity,andcashflowsforeachoftheyearsinthetwo-yearperiodendedDecember31,2015,andourreportdatedFebruary18,2016expressedan
unqualifiedopiniononthoseconsolidatedfinancialstatements.
/s/KPMGLLP
Boston,Massachusetts
February18,2016
99