Avid 2004 Annual Report Download - page 53
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39
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.
As described in “Management’s Report on Internal Control Over Financial Reporting,” management has excluded M-Audio,
Inc. and its subsidiaries from its assessment of internal control over financial reporting as of December 31, 2004 because the
entity was acquired by the Company in a purchase business combination during 2004. We have also excluded M-Audio,
Inc. and its subsidiaries from our audit of internal control over financial reporting. M-Audio, Inc. and its subsidiaries are
wholly-owned subsidiaries whose total assets and total revenues represent 33% and 4%, respectively, of the related
consolidated financial statement amounts of Avid Technology, Inc. as of and for the year ended December 31, 2004.
Boston, Massachusetts
March 15, 2005