8x8 2014 Annual Report Download - page 48

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
8x8, Inc.
We have audited the accompanying consolidated balance sheets of 8x8, Inc. (the Company), as of March 31, 2014 and 2013, and the related
consolidated statements of income, comprehensive income, stockholders' equity and cash flows for each of the three years in the period ended
March 31, 2014. We also have audited the Company's internal control over financial reporting as of March 31, 2014, based on criteria
established in Internal Control - Integrated Framework (1992)
issued by the Committee of Sponsoring Organizations of the Treadway
Commission. As discussed in Management's Report on Internal Control Over Financial Reporting, on November 29, 2013, the Company
acquired Voicenet Solutions Limited ("Voicenet"). For the purposes of assessing internal control over financial reporting, management excluded
Voicenet, whose financial statements constitute 2% of the Company's consolidated total assets (excluding $20.8 million of goodwill and
intangible assets, net, which were integrated into the Company's control environment) and 3% of consolidated net revenues as of and for the year
ended March 31, 2014. Accordingly, our audit did not include the internal control over financial reporting of Voicenet. The Company's
management is responsible for these consolidated 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 the accompanying Management's Report on Internal
Control Over Financial Reporting appearing under Item 9A. Our responsibility is to express an opinion on these consolidated 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 consolidated 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
consolidated financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated
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 opinions.
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 consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position
of 8x8, Inc., as of March 31, 2014 and 2013, and the consolidated results of its operations and its cash flows for each of the three years in the
period ended March 31, 2014, in conformity with accounting principles generally accepted in the United States of America. Also in our opinion,
8x8, Inc., maintained, in all material respects, effective internal control over financial reporting as of March 31, 2014, based on criteria
established in Internal Control - Integrated Framework (1992) by the Committee of Sponsoring Organizations of the Treadway Commission.
/s/ Moss Adams LLP
San Francisco, California
May 27, 2014
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