SanDisk 2007 Annual Report Download - page 98

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of
SanDisk Corporation
We have audited the accompanying consolidated balance sheets of SanDisk Corporation as of December 30,
2007 and December 31, 2006, and the related consolidated statements of income, stockholders’ equity, and cash
flows for each of the three years in the period ended December 30, 2007. These financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these 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 SanDisk Corporation at December 30, 2007 and December 31, 2006, and the
consolidated results of their operations and their cash flows for each of the three years in the period ended
December 30, 2007, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 8 to the consolidated financial statements, on January 2, 2006, SanDisk Corporation
adopted Statement of Financial Accounting Standards No. 123 (revised 2004), Share Based Payment. As discussed
in Note 10 to the consolidated financial statements, on January 1, 2007, SanDisk Corporation adopted FASB
Interpretation No. 48 (“FIN 48”), Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statement
No. 109.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of SanDisk Corporation’s internal control over financial reporting as of
December 30, 2007, based on criteria established in Internal Control — Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission (the “COSO criteria”) and our report, dated
February 19, 2008, expressed an unqualified opinion thereon.
/s/ Ernst & Young LLP
San Jose, California
February 19, 2008
F-2