WeightWatchers 2003 Annual Report Download - page 95

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Report of Independent Auditors
To the Board of Directors and Shareholders
of Weight Watchers International, Inc.:
In our opinion, the consolidated financial statements listed in the index appearing under Item
15(a)(1) on page F-1 present fairly, in all material respects, the financial position of Weight Watchers
International, Inc. and its subsidiaries at January 3, 2004 and December 28, 2002, and the results of
their operations and their cash flows for each of the years ended January 3, 2004, December 28, 2002
and December 29, 2001, in conformity with accounting principles generally accepted in the United
States of America. In addition, in our opinion, the financial statement schedule listed in the index
appearing under Item 15(a)(2) on page F-1 presents fairly, in all material respects, the information set
forth therein when read in conjunction with the related consolidated financial statements. These
financial statements and financial statement schedule are the responsibility of the Company’s
management; our responsibility is to express an opinion on these financial statements and financial
statement schedule based on our audits. We conducted our audits of these statements in accordance
with auditing standards generally accepted in the United States of America, which 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, and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
As discussed in Note 2 to the consolidated financial statements, on December 30, 2001, Weight
Watchers International, Inc. adopted Statement of Financial Accounting Standards No. 142, ‘‘Goodwill
and Other Intangible Assets.’’
PricewaterhouseCoopers, LLP
New York, New York
February 16, 2004
F-41