U-Haul 2011 Annual Report Download - page 57

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Report of Independent Registered Public Accounting Firm
Board of Directors and Stockholders
AMERCO
Reno, Nevada
We have audited the accompanying consolidated balance sheets of AMERCO and consolidated subsidiaries
(the “Company”) as of March 31, 2011 and 2010 and the related consolidated statements of operations,
changes in stockholders’ equity, comprehensive income (loss), and cash flows for each of the three years in the
period ended March 31, 2011. In connection with our audits of the financial statements, we have also audited
the financial statement schedules listed in the accompanying index. These financial statements and schedules
are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
financial statements and schedules 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, assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
presentation of the financial statements and schedules. 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
financial position of the Company at March 31, 2011 and 2010, and the results of its operations and its cash
flows for each of the three years in the period ended March 31, 2011, in conformity with accounting principles
generally accepted in the United States of America.
Also, in our opinion, the financial statement schedules, when considered in relation to the basic consolidated
financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the Company's internal control over financial reporting as of March 31, 2011, based on criteria
established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO) and our report dated June 8, 2011 expressed an unqualified opinion
thereon.
/s/ BDO USA, LLP
Phoenix, Arizona
June 8, 2011
F-1