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46
WESTERN UNION 2007 Annual Report
||
Report of Independent Registered
Public Accounting Firm
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, 2007 and
2006, and the related consolidated statements of income, cash
fl ows, and stockholders’ equity/(defi ciency)/net investment in
The Western Union Company for each of the three years in the
period ended December 31, 2007. These fi nancial statements
are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these fi nancial state-
ments 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 fi nancial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts
and disclosures in the fi nancial statements. An audit also includes
assessing the accounting principles used and signifi cant estimates
made by management, as well as evaluating the overall fi nancial
statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the fi nancial statements referred to above
present fairly, in all material respects, the consolidated fi nancial
position of The Western Union Company at December 31, 2007
and 2006, and the consolidated results of its operations and its
cash flows for each of the three years in the period ended
December 31, 2007, in conformity with U.S. generally accepted
accounting principles.
As discussed in Note 2 to the consolidated fi nancial state-
ments, effective January 1, 2007, the Company adopted Financial
Accounting Standards Board Interpretation No. 48, “Accounting
for Uncertainty in Income Taxes,” and effective January 1, 2006,
the Company adopted Statement of Financial Accounting
Standards No. 123(R), “Share Based Payment.”
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United States),
The Western Union Company’s internal control over fi nancial
reporting as of December 31, 2007, based on criteria established
in Internal Control-Integrated Framework issued by the Committee
of Sponsoring Organizations of the Treadway Commission and
our report dated February 22, 2008 expressed an unqualifi ed
opinion thereon.
Denver, Colorado
February 22, 2008