XM Radio 2008 Annual Report Download - page 51

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders Sirius XM Radio Inc. and subsidiaries:
We have audited the accompanying consolidated balance sheet of Sirius XM Radio Inc. and subsidiaries as of
December 31, 2008, and the related consolidated statements of operations, stockholders’ equity (deficit) and
comprehensive loss, and cash flows for the year then ended. In connection with our audit of the consolidated
financial statements, we also have audited the accompanying financial statement schedule. These consolidated
financial statements and financial statement schedule are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these consolidated financial statements and financial statement schedule
based on our audit.
We conducted our audit 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. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides 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 Sirius XM Radio Inc. and subsidiaries as of December 31, 2008, and the results of their
operations and their cash flows for the year then ended, in conformity with U.S. generally accepted accounting
principles. Also in our opinion, the related financial statement schedule, when considered in relation to the basic
consolidated financial statements taken as a whole, presents 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), Sirius XM Radio Inc. and subsidiaries’ internal control over financial reporting as of December 31,
2008, 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 March 10, 2009 expressed
an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.
/s/ KPMG LLP
New York, New York
March 10, 2009
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