Citrix 2006 Annual Report Download - page 57

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Citrix Systems, Inc.  Annual Report
The Board of Directors and Stockholders of
Citrix Systems, Inc.
We have audited the accompanying consolidated balance
sheets Citrix Systems, Inc. as of December 31, 2006
and 2005, and the related consolidated statements of
income, stockholders’ equity and comprehensive income,
and cash flows for each of the three years in the period
ended December 31, 2006. 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 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, the financial statements referred to above
present fairly, in all material respects, the consolidated
financial position of Citrix Systems, Inc. at December 31,
2006 and 2005, and the consolidated results of its
operations and its cash flows for each of the three years in
the period ended December 31, 2006, in conformity with
U.S. generally accepted accounting principles. Also, in our
opinion, the related 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 herein.
As discussed in Note 2, the Company has restated
previously issued financial statements as of
December 31, 2005 and for each of the two years in
the period ended December 31, 2005 to correct for
stock-based compensation.
As discussed in Note 7 to the consolidated financial
statements, effective January 1, 2006, the Company
adopted the provisions of Statement of Financial
Accounting Standards No. 123 (revised 2004), Share-
Based Payment.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United
States), the effectiveness of Citrix Systems, Inc.’s internal
control over financial reporting as of December 31, 2006,
based on criteria established in Internal Control-Integrated
Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our
report dated September 7, 2007 expressed an unqualified
opinion thereon.
Certified Public Accountants
West Palm Beach, Florida
September 7, 2007