Invacare 2007 Annual Report Download - page 65

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Shareholders and Board of Directors
Invacare Corporation
We have audited the accompanying consolidated balance sheets of Invacare Corporation and subsidiaries as
of December 31, 2007 and 2006, and the related consolidated statements of operations, cash flows and
shareholders’ equity for each of the three years in the period ended December 31, 2007. Our audits also included
the financial statement schedule listed in the Index at Item 15 (a)(2). 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 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 consolidated financial statements referred to above present fairly, in all material respects,
the consolidated financial position of Invacare Corporation and subsidiaries at December 31, 2007 and 2006, and
the consolidated results of their operations and their cash flows for each of the three years in the period ended
December 31, 2007, 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 therein.
As discussed in Accounting Policies in the notes to the consolidated financial statements, the Company
adopted the provisions of SFAS No. 123(R), Share Based Payment, effective January 1, 2006; the provisions of
SFAS No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, an
amendment of FASB Statements No. 87, 88, 106 and 132(R), effective December 31, 2006; and the provisions of
SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current
Year Financial Statements, applying the one-time special transition provisions, in 2006.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Invacare Corporation’s internal control over financial reporting as of December 31, 2007, based
on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated February 28, 2008 expressed an unqualified
opinion thereon.
/s/ ERNST & YOUNG LLP
Cleveland, Ohio
February 28, 2008
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