Health Net 2004 Annual Report Download - page 85

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of
Health Net, Inc.
Woodland Hills, California
We have audited the accompanying consolidated balance sheets of Health Net, Inc. and subsidiaries (the “Company”) as of
December 31, 2004 and 2003, and the related consolidated statements of operations, stockholders’ equity, and cash flows for each of
the three years in the period ended December 31, 2004. Our audits also included the financial statement schedules listed in the Index
at Item 15(a). 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 Health Net,
Inc. and subsidiaries at December 31, 2004 and 2003, and the results of their operations and their cash flows for each of the three
years in the period ended December 31, 2004, 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, 2004 based on the criteria established in
I
nternal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and
our report dated March 14, 2005 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
/
D
ELOITTE
& T
OUCHE
LLP
Los Angeles, California
March 14, 2005
F-2