XM Radio 2015 Annual Report Download - page 92

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
Sirius XM Holdings Inc. and subsidiaries:
We have audited the accompanying consolidated balance sheets of Sirius XM Holdings Inc.
and subsidiaries as of December 31, 2015 and 2014, and the related consolidated statements of
comprehensive income, stockholders’ (deficit) equity, and cash flows for each of the years in the
three-year period ended December 31, 2015. In connection with our audits of the consolidated
financial statements, we also have audited the financial statement schedule listed in Item 15(2).
These consolidated financial statements and the financial statement schedule are the responsibility
of the Company’s management. Our responsibility is to express an opinion on these consolidated
financial statements and the financial statement schedule 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. 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 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 Sirius XM Holdings Inc. and subsidiaries as of December
31, 2015 and 2014, and the results of their operations and their cash flows for each of the years in
the three-year period ended December 31, 2015, 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 Holdings Inc. and subsidiaries’ internal control over
financial reporting as of December 31, 2015, based on criteria established in Internal Control—
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO), and our report dated February 2, 2016 expressed an unqualified
opinion on the effectiveness of the Company’s internal control over financial reporting.
/s/ KPMG LLP
New York, New York
February 2, 2016
F-1