Yahoo 1998 Annual Report Download - page 59

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report of independent accountants
TO THE BOARD OF DIRECTORS AND SHAREHOLDERS OF YAHOO! INC.
In our opinion, the accompanying consolidated balance sheets and the related
consolidated statements of operations, of shareholders’ equity and of cash flows
present fairly, in all material respects, the financial position of Yahoo! Inc. and its
subsidiaries at December 31, 1998 and 1997, and the results of their operations
and their cash flows for each of the three years in the period ended December 31,
1998, in conformity with generally accepted accounting principles. 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 of these statements in accordance with generally accepted
auditing standards 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 the opinion expressed above.
San Jose, California
J anuary 8, 1999, except as to the stock split described in
Note 1 and Note 10, which are as of February 8, 1999
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