Blizzard 2003 Annual Report Download - page 27

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page 25
Report of Independent Accountants
To the Board of Directors and Shareholders
of Activision, Inc.:
In our opinion, the accompanying consolidated balance sheets and the related consolidated statement of
operations, shareholders’ equity and cash flows present fairly, in all material respects, the financial position
of Activision, Inc. and its subsidiaries at March 31, 2003 and 2002, and the results of their operations and
their cash flows for each of the three years in the period ended March 31, 2003 in conformity with
accounting principles generally accepted in the United States of America. These financial statements are
the responsibility of the Company’s management; our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of these statements in accordance
with auditing standards generally accepted in the United States of America, which 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, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
PricewaterhouseCoopers LLP
Los Angeles, California
June 6, 2003
Activision 2003