LeapFrog 2010 Annual Report Download - page 52
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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders of LeapFrog Enterprises, Inc.
We have audited the accompanying consolidated balance sheets of LeapFrog Enterprises, Inc. as of
December 31, 2010 and 2009, and the related consolidated statements of operations, stockholders’ equity, and
cash flows for each of the three years in the period ended December 31, 2010. Our audits also included the
financial statement schedule listed in the index at Item 15. 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 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 LeapFrog Enterprises, Inc. at December 31, 2010 and 2009, and the consolidated results of
its operations and its cash flows for each of the three years in the period ended December 31, 2010, 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.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), LeapFrog Enterprises, Inc.’s internal control over financial reporting as of December 31, 2010,
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 22, 2011 expressed an unqualified
opinion thereon.
/s/ Ernst & Young LLP
San Francisco, California
February 22, 2011
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