Seagate 2009 Annual Report Download - page 127

Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Seagate Technology plc
We have audited the accompanying consolidated balance sheets of Seagate Technology (predecessor of Seagate Technology plc) as of
July 2, 2010 and July 3, 2009, and the related consolidated statements of operations, shareholders' equity, and cash flows for each of the three
years in the period ended July 2, 2010. These consolidated 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
Seagate Technology at July 2, 2010 and July 3, 2009, and the consolidated results of its operations and its cash flows for each of the three years
in the period ended July 2, 2010, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 5 to the consolidated financial statements, Seagate Technology changed its method of accounting for its 2.375% and
6.8% convertible notes with the retrospective adoption of new guidance on accounting for convertible debt instruments that may be settled in
cash upon conversion, effective July 4, 2009.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
effectiveness of Seagate Technology's (predecessor of Seagate Technology plc) internal control over financial reporting as of July 2, 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 August 20, 2010 expressed an unqualified opinion thereon.
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/s/ ERNST & YOUNG LLP
Palo Alto, California
August 20, 2010