Seagate 2004 Annual Report Download - page 109

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Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Seagate Technology
We have audited the accompanying consolidated balance sheets of Seagate Technology as of July 1, 2005 and July 2, 2004, and the
related consolidated statements of operations, shareholders’ equity and cash flows of Seagate Technology for the fiscal years ended July 1,
2005, July 2, 2004, and June 27, 2003. These consolidated financial statements are the responsibility of Seagate Technology’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 consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial
position of Seagate Technology at July 1, 2005 and July 2, 2004 and the consolidated results of its operations and cash flows for the fiscal years
ended July 1, 2005, July 2, 2004 and June 27, 2003, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
effectiveness of Seagate Technology’s internal control over financial reporting as of July 1, 2005, based on criteria established in Internal
Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated
August 1, 2005 expressed an unqualified opinion thereon.
/s/ E
RNST
& Y
OUNG
LLP
Palo Alto, California
August 1, 2005
105