Logitech 2007 Annual Report Download - page 120

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REPORT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TO THE GENERAL MEETING OF
LOGITECH INTERNATIONAL S.A.,
APPLES, SWITZERLAND
To the Shareholders of Logitech International S.A.:
We have completed an integrated audit of Logitech International S.A.’s March 31, 2007 consolidated
financial statements and of its internal control over financial reporting as of March 31, 2007 and audits of its
March 31, 2006 and March 31, 2005 consolidated financial statements in accordance with the standards of the
Public Company Accounting Oversight Board (United States) and with Swiss Auditing Standards. Our opinions,
based on our audits, are presented below.
Consolidated financial statements and financial statement schedule
In our opinion, the consolidated financial statements listed in the index appearing on F-1 present fairly, in
all material respects, the financial position of Logitech International S.A. and its subsidiaries at March 31, 2007
and March 31, 2006, and the results of their operations and their cash flows for each of the three years in the
period ended March 31, 2007 in conformity with accounting principles generally accepted in the United States of
America and comply with Swiss law. In addition, in our opinion, the financial statement schedule on S-1 presents
fairly, in all material respects, the information set forth therein when read in conjunction with the related
consolidated financial statements. These financial statements and financial statement schedule are the
responsibility of the Company’s Board of Directors and management. Our responsibility is to express an opinion
on these financial statements and financial statement schedule based on our audits. We conducted our audits of
these statements in accordance with the standards of the Public Company Accounting Oversight Board (United
States) and with Swiss Auditing Standards. 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 of
financial statements includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles used and significant estimates made by management,
and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
We recommend that the consolidated financial statements submitted to you be approved.
As discussed in Note 4 and Note 13 to the consolidated financial statements, the Company adopted
Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment as of April 1, 2006
and Statement of Financial Accounting Standards No. 158, Employer’s Accounting for Defined Benefit Pension
and Other Postretirement Plans as of March 31, 2007.
Internal control over financial reporting
Also, in our opinion, management’s assessment, included in Management’s Annual Report on Internal
Control over Financial Reporting appearing under Item 15(b) in this Form 20-F, that the Company maintained
effective internal control over financial reporting as of March 31, 2007 based on criteria established in Internal
Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO), is fairly stated, in all material respects, based on those criteria. Furthermore, in our
opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of
March 31, 2007, based on criteria established in Internal Control – Integrated Framework issued by the COSO.
The Company’s management, with the oversight of the Board of Directors, is responsible for maintaining
effective internal control over financial reporting and for its assessment of the effectiveness of internal control
over financial reporting. Our responsibility is to express opinions on management’s assessment and on the
effectiveness of the Company’s internal control over financial reporting based on our audit. We conducted our
F-2