Canon 2011 Annual Report Download - page 100

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98 F I N A N C I A L S E C T I O N >R E P O R T S O F I N D E P E N D E N T R E G I S T E R E D P U B L I C A C C O U N T I N G F I R M
The Board of Directors and Stockholders of
Canon Inc.
We have audited the accompanying consolidated balance sheets of Canon Inc. and subsidiaries as of December 31,
2011 and 2010, and the related consolidated statements of income, equity, and cash flows for each of the three years
in the period ended December 31, 2011, all expressed in Japanese yen. These financial statements are the responsi-
bility of the Company#s management. Our responsibility is to express an opinion on these financial statements
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 finan-
cial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Canon Inc. and subsidiaries at December 31, 2011 and 2010, and the consolidated results of
their operations and their cash flows for each of the three years in the period ended December 31, 2011, in conform-
ity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), Canon Inc. and subsidiaries#internal control over financial reporting as of December 31, 2011, based on cri-
teria established in Internal Control'Integrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission and our report dated March 29, 2012 expressed an unqualified opinion thereon.
We have also recomputed the translation of the consolidated financial statements as of and for the year ended
December 31, 2011 into United States dollars. In our opinion, the consolidated financial statements expressed in
Japanese yen have been translated into United States dollars on the basis described in Note 2.
March 29, 2012
R E P O R T O F I N D E P E N D E N T R E G I S T E R E D
P U B L I C A C C O U N T I N G F I R M