8x8 2011 Annual Report Download - page 40

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Report of Independent Registered Public Accounting Firm
Board of Directors and Stockholders of 8x8, Inc.
We have audited the accompanying consolidated balance sheets of 8x8, Inc. (the Company) as of March 31, 2011 and 2010
and the related consolidated statements of operations, stockholders’ equity and cash flows for each of the three years in the
period ended March 31, 2011. Our audit also included the financial statement Schedule II- Valuation and Qualifying Accounts.
We also have audited the Company’ s internal control over financial reporting as of March 31, 2011, based on criteria set forth
by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control - Integrated
Framework. The Company's management is responsible for these financial statements, for maintaining effective internal
control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included
in management’ s report on internal control over financial reporting appearing under Item 9A. Our responsibility is to express
an opinion on these financial statements and an opinion on the Company's internal control over financial reporting 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 audits to obtain reasonable assurance about whether the financial
statements are free of material misstatement and whether effective internal control over financial reporting was maintained in
all material respects. Our audits of the financial statements included 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. Our audit of internal control over financial reporting
included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our
audits also include performing such other procedures as we considered necessary in the circumstances. We believe that our
audits provide a reasonable basis for our opinion.
A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures
that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with authorizations of management and directors of the
company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or
disposition of the company's assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial
position of 8x8, Inc. and consolidated subsidiaries, as of March, 31, 2011 and 2010, and the consolidated results of its
operations and its cash flows for each of the three years in the period ended March 31, 2011, in conformity with accounting
principles generally accepted in the United States of America. In addition, in our opinion, the financial statement Schedule II,
when considered in relation to the basic financial statements taken as a whole, presents fairly in all material respects the
information set forth therein. Also in our opinion, 8x8, Inc., maintained, in all material respects, effective internal control over
financial reporting as of March 31, 2011, based on criteria set forth by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) in Internal Control - Integrated Framework.
/s/ Moss Adams LLP
San Francisco, California
May 20, 2011