Adaptec 2007 Annual Report Download - page 62

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Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Stockholders of PMC-Sierra, Inc.
We have audited the accompanying consolidated balance sheets of PMC-Sierra, Inc. and subsidiaries (the “Company”) as of December 30, 2007 and
December 31, 2006 and the related consolidated statements of operations, cash flows, and stockholders’ equity for each of the three years in the period ended
December 30, 2007. Our audits also included the financial statement schedules listed in the Index at Item 15(a). These financial statements and financial
statement schedules are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and financial
statement schedules 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, such consolidated financial statements present fairly, in all material respects, the financial position of PMC-Sierra Inc. and subsidiaries as of
December 30, 2007 and December 31, 2006, and the results of their operations and their cash flows for each of the three years in the period ended December 30,
2007, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, such financial statement schedules,
when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects the information set forth
therein.
As discussed in Note 1 to the consolidated financial statements, the Company adopted Statement of Financial Accounting Standard No. 123(R), “Share-Based
Payment”, effective January 1, 2006, and Financial Accounting Standards Board Interpretation No. 48 “Accounting for Uncertainty in Income Taxes”, effective
January 1, 2007.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over
financial reporting as of December 30, 2007, based on the criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated February 22, 2008 expressed an unqualified opinion on the Company’s internal control over
financial reporting.
/s/ DELOITTE & TOUCHE LLP
Independent Registered Public Accountants
Vancouver, Canada
February 22, 2008
56
Source: PMC SIERRA INC, 10-K, February 22, 2008