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WESTERN UNION 2006 Annual Report 62
THE BOARD OF DIRECTORS AND STOCKHOLDERS
OF THE WESTERN UNION COMPANY
We have audited the accompanying consolidated
balance sheets of The Western Union Company as of
December 31, 2006 and 2005, and the related consolidated
statements of income, cash flows, and stockholders’
(deficiency)/net investment in The Western Union Company
for each of the three years in the period ended December
31, 2006. These financial statements are the responsibility
of the Company’s management. Our responsibility is to
express an opinion on these financial statements 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. We were not engaged to perform an audit
of the Company’s internal control over financial reporting.
Our audits included consideration of internal control over
financial reporting as a basis for designing audit procedures
that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of
the Company’s internal control over financial reporting.
Accordingly, we express no such opinion. An audit also
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.
In our opinion, the financial statements referred to
above present fairly, in all material respects, the consolidated
financial position of The Western Union Company 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.
As discussed in Note 2 to the consolidated financial
statements, effective January 1, 2006, the Company
adopted Statement of Financial Accounting Standards
No. 123(R), “Share Based Payment”.
Denver, Colorado
February 22, 2007
|| Report of Independent Registered Public Accounting Firm