Adobe 1998 Annual Report Download - page 40

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INDEPENDENT AUDITORS’ REPORT
To the Board of Directors and Stockholders of Adobe Systems Incorporated:
We have audited the accompanying consolidated financial statements of Adobe Systems Incorporated
and subsidiaries as listed in the accompanying index. In connection with our audits of the consolidated
financial statements, we also have audited the accompanying financial statement schedule. These consoli-
dated financial statements and financial statement schedule are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these consolidated financial statements and
financial statement schedule based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. 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, the consolidated financial statements referred to above present fairly, in all material
respects, the financial position of Adobe Systems Incorporated and subsidiaries as of November 27, 1998
and November 28, 1997, and the results of their operations and their cash flows for each of the years in the
three-year period ended November 27, 1998, in conformity with generally accepted accounting principles.
Also, in our opinion, the related financial statement schedule, when considered in relation to the basic
consolidated financial statements taken as a whole, presents fairly, in all material respects, the information
set forth therein.
KPMG LLP
Mountain View, California
December 14, 1998
40