Twenty-First Century Fox 2007 Annual Report Download - page 67

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Report of Independent Registered Public Accounting Firm on Internal Control Over
Financial Reporting
To the Stockholders and Board of Directors of News Corporation:
We have audited management’s assessment, included in the accompanying Management’s Report on Internal Control over
Financial Reporting,that News Corporation maintained effective internal control over financial reporting as of June 30, 2007, based
on criteria established in Internal Control—Integrated Framework issued by the CommitteeofSponsoring Organizations of the
Treadway Commission (the COSO criteria). News Corporation’s management is responsible for maintaining effective internal control
over financial reporting and for itsassessment of the effectiveness of internal control over financial reporting. Our responsibility is to
express an opinion on management’s assessment and an opinion on the effectiveness of the Company’s internal control over finan-
cial reporting based on our audit.
We conductedouraudit in accordance with the standardsof the Public Company Accounting Oversight Board (United States).
Those standardsrequire that we plan and perform the audit to obtain reasonable assurance about whether effective internal control
over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control
over financial reporting, evaluating management’s assessment, testing and evaluating the design andoperating effectiveness of
internal control,andperforming such other procedures as we considered necessary in the circumstances. We believe that our audit
provides areasonable basis for our opinion.
Acompany’s internal control over financial reporting is aprocess designed to provide reasonable assurance regarding the reli-
ability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles. Acompany’s internal control over financial reporting includes thosepolicies and procedures that (1) pertain
to the maintenance of records that, in reasonable detail, accurately and fairly reflectthe transactions and dispositions of the assets of
the company; (2) provide reasonable assurance that transactions are recorded as necessarytopermit preparation of financial state-
ments in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being
made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance
regarding preventionor timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a
material effect on the financial statements.
Because of itsinherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, pro-
jections of any evaluation of effectiveness to futureperiods are subject totherisk that controls may becomeinadequate because of
changes in conditions, or that the degree of compliance with thepolicies or procedures may deteriorate.
In our opinion, management’s assessment that News Corporation maintained effective internal control over financial reporting
as of June 30, 2007 is fairly stated, in all material respects, based on the COSO criteria. Also, in our opinion, News Corporation
maintained, in all material respects, effective internal control over financial reporting as of June 30, 2007, based on the COSO cri-
teria.
We also have audited, in accordance with the standardsof the Public Company Accounting Oversight Board (United States), the
consolidated balance sheets of News Corporation as of June 30, 2007 and 2006, and the related consolidated statements of oper-
ations, cash flows, and stockholders’ equity and other comprehensive income (loss) for each of the three yearsinthe period ended
June 30, 2007 of News Corporation, and our report dated August 23, 2007 expressed an unqualified opinion thereon.
New York, New York
August 23, 2007
66