Callaway 2005 Annual Report Download - page 70

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Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of
Callaway Golf Company
Carlsbad, California
We have audited the accompanying consolidated balance sheets of Callaway Golf Company and
subsidiaries (the “Company”) as of December 31, 2005 and 2004, and the related consolidated statements of
operation, shareholder’s equity and comprehensive income, and cash flows for each of the three years in the
period ended December 31, 2005. Our audits also included the financial statement schedules listed in the Index at
Item (15)a2. These financial statements and financial statement schedules are the responsibility of the
Company’s management. Our responsibility is to express an opinion on the 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 Callaway Golf Company and subsidiaries as of December 31, 2005 and 2004, and the results of their
operations and their cash flows for each of the three years in the period ended December 31, 2005, 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.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of the Company’s internal control over financial reporting as of December 31,
2005, 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 23, 2006 expressed an
unqualified opinion on management’s assessment of the effectiveness of the Company’s internal control over
financial reporting and an unqualified opinion on the effectiveness of the Company’s internal control over
financial reporting.
/s/ DELOITTE & TOUCHE LLP
Costa Mesa, California
February 23, 2006
F-2