Circuit City 2005 Annual Report Download - page 44

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Shareholders and Board of Directors of Systemax Inc.:
We have audited the accompanying consolidated balance sheet of Systemax Inc. as of December 31, 2005, and the
related consolidated statements of operations, cash flows, and shareholders’ equity for the year then ended. Our audit
also included the 2005 financial statement schedule listed in the accompanying index in Item 15. These financial
statements and schedule are the responsibility of the Company’s management. Our responsibility is to express an
opinion on these financial statements and schedule based on our audit.
We conducted our audit 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. We were not engaged to perform an audit of the Company’s
internal control over financial reporting. Our audit included consideration of internal control over financial reporting as
a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no
such opinion. 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, as well
as evaluating the overall financial statement presentation. We believe that our audit provides 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 Systemax Inc. at December 31, 2005, and the consolidated results of its operations and its cash
flows for the year then ended, in conformity with U.S. generally accepted accounting principles. Also, in our opinion,
the related 2005 financial statement schedule, when considered in relation to the basic financial statements taken as a
whole, presents fairly in all material respects the information set forth therein.
ERNST & YOUNG LLP
New York, New York
May 26, 2006
REPORT OF DELOITTE & TOUCHE, LLP, INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and Board of Directors of SYSTEMAX INC.:
We have audited the accompanying consolidated balance sheet of Systemax Inc. and subsidiaries (the “Company”) as
of December 31, 2004 , and the related consolidated statements of operations, shareholders’ equity, and cash flows for
each of the two years in the period ended December 31, 2004. Our audits also included the financial statement
schedule listed in the Index at Item 15 for each of the two years in the period ended December 31, 2004. These
financial statements and financial statement schedule are the responsibility of the Company’s management. Our
responsibility is to express an opinion on the financial statements and financial statement schedule 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. The Company is not required to have, nor were we engaged to
perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control
over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances but not for
the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting.
Accordingly, we express no such opinion. An audit also 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, 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
Systemax Inc. and subsidiaries at December 31, 2004, and the results of their operations and their cash flows for each
of the two years in the period ended December 31, 2004, in conformity with accounting principles generally accepted