eBay 2003 Annual Report Download - page 88

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REPORT OF INDEPENDENT AUDITORS
To the Board of Directors and
Stockholders of eBay Inc.:
In our opinion, the Consolidated Financial Statements listed in the index appearing under
Item 15(a) 1. on page 83 present fairly, in all material respects, the Ñnancial position of eBay Inc. and its
subsidiaries (the Company) at December 31, 2003 and December 31, 2002, and the results of their
operations and their cash Öows for each of the three years in the period ended December 31, 2003 in
conformity with accounting principles generally accepted in the United States of America. In addition, in
our opinion, the Ñnancial statement schedule listed in the index appearing under item 15(a) 2. on page 83
present fairly, in all material respects, the information set forth therein when read in conjunction with the
related Consolidated Financial Statements. These Ñnancial statements and the Ñnancial statement schedule
are the responsibility of the Company's management; our responsibility is to express an opinion on these
Ñnancial statements and the Ñnancial statement schedule based on our audits. We conducted our audits of
these statements in accordance with auditing standards generally accepted in the United States of
America, which require that we plan and perform the audit to obtain reasonable assurance about whether
the Ñnancial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the Ñnancial statements, assessing the accounting
principles used and signiÑcant estimates made by management, and evaluating the overall Ñnancial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
As discussed in Notes 1 and 8 to the Consolidated Financial Statements, eÅective July 1, 2003 the
Company adopted the provisions of Financial Accounting Standards Board Interpretation No. 46,
""Consolidation of Variable Interest Entities Ì an interpretation of ARB 51''. As discussed in Note 3 to
the Consolidated Financial Statements, eÅective January 1, 2002 the Company changed its method of
accounting for goodwill in accordance with Statement of Financial Accounting Standards No. 142,
""Goodwill and Other Intangible Assets''.
/s/ PricewaterhouseCoopers LLP
San Jose, California
March 4, 2004
86