D-Link 2004 Annual Report Download - page 24

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The accompanying consolidated financial statements are not intended to present the financial position and results of operations
and cash flows in accordance with accounting principles and practices generally accepted in countries and jurisdictions other than
the Republic of China. The standards, procedures and practices to audit such consolidated financial statements are those generally
accepted and applied in the Republic of China.
Independent Auditors’ Report
The Board of Directors
D-Link Corporation:
We have audited the consolidated balance sheets of D-Link Corporation and subsidiaries as of December
31, 2003 and 2004, and the related consolidated statements of income, changes in stockholders’ equity, and
cash flows for the years then ended. These consolidated financial statements are the responsibility of the
company’s management. Our responsibility is to express an opinion on these consolidated financial
statements based on our audits. We did not audit the financial statements of certain consolidated
subsidiaries included in the consolidated financial statements. The total assets of these subsidiaries were
NT$824,258 thousand and NT$1,415,984 thousand as of December 31, 2003 and 2004, respectively, and
their total revenue was NT$1,955,336 thousand and NT$3,018,760 thousand for the years ended December
31, 2003 and 2004, respectively. Those financial statements were audited by other auditors whose reports
have been furnished to us, and our opinion, insofar as it relates to the amounts included for those
subsidiaries, is based solely on the reports of the other auditors.
We conducted our audits in accordance with auditing standards generally accepted in the Republic of
China. 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 and the reports of the
other auditors provide a reasonable basis for our opinion.
In our opinion, based on our audits and the reports of the other auditors, the consolidated financial
statements referred to above present fairly, in all material respects, the financial position of D-Link
Corporation and subsidiaries as of December 31, 2003 and 2004, and the results of their operations and
their cash flows for the years then ended, in conformity with accounting principles generally accepted in
the Republic of China.
Hsinchu, Taiwan (the Republic of China)
March 25, 2005