Seagate 2015 Annual Report Download - page 118
Download and view the complete annual report
Please find page 118 of the 2015 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.TableofContents
REPORTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM
TheBoardofDirectorsandShareholdersofSeagateTechnologypubliclimitedcompany
WehaveauditedSeagateTechnologypubliclimitedcompany(plc)'sinternalcontroloverfinancialreportingasofJuly1,2016,basedoncriteriaestablished
inInternalControl—IntegratedFrameworkissuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission(2013framework)(theCOSO
criteria).SeagateTechnologyplc'smanagementisresponsibleformaintainingeffectiveinternalcontroloverfinancialreporting,andforitsassessmentofthe
effectivenessofinternalcontroloverfinancialreportingincludedintheaccompanyingManagement'sReportonInternalControloverFinancialReporting.Our
responsibilityistoexpressanopinionontheCompany'sinternalcontroloverfinancialreportingbasedonouraudit.
WeconductedourauditinaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates).Thosestandardsrequirethatwe
planandperformtheaudittoobtainreasonableassuranceaboutwhethereffectiveinternalcontroloverfinancialreportingwasmaintainedinallmaterialrespects.
Ourauditincludedobtaininganunderstandingofinternalcontroloverfinancialreporting,assessingtheriskthatamaterialweaknessexists,testingandevaluating
thedesignandoperatingeffectivenessofinternalcontrolbasedontheassessedrisk,andperformingsuchotherproceduresasweconsiderednecessaryinthe
circumstances.Webelievethatourauditprovidesareasonablebasisforouropinion.
Acompany'sinternalcontroloverfinancialreportingisaprocessdesignedtoprovidereasonableassuranceregardingthereliabilityoffinancialreportingand
thepreparationoffinancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccountingprinciples.Acompany'sinternalcontrolover
financialreportingincludesthosepoliciesandproceduresthat(1)pertaintothemaintenanceofrecordsthat,inreasonabledetail,accuratelyandfairlyreflectthe
transactionsanddispositionsoftheassetsofthecompany;(2)providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationof
financialstatementsinaccordancewithgenerallyacceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyin
accordancewithauthorizationsofmanagementanddirectorsofthecompany;and(3)providereasonableassuranceregardingpreventionortimelydetectionof
unauthorizedacquisition,use,ordispositionofthecompany'sassetsthatcouldhaveamaterialeffectonthefinancialstatements.
Becauseofitsinherentlimitations,internalcontroloverfinancialreportingmaynotpreventordetectmisstatements.Also,projectionsofanyevaluationof
effectivenesstofutureperiodsaresubjecttotheriskthatcontrolsmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewith
thepoliciesorproceduresmaydeteriorate.
Inouropinion,SeagateTechnologyplcmaintained,inallmaterialrespects,effectiveinternalcontroloverfinancialreportingasofJuly1,2016,basedonthe
COSOcriteria.
Wealsohaveaudited,inaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates),theconsolidatedbalancesheets
ofSeagateTechnologyplcasofJuly1,2016andJuly3,2015,andtherelatedconsolidatedstatementsofoperations,comprehensiveincome,shareholders'equity
andcashflowsforeachofthethreeyearsintheperiodendedJuly1,2016andourreportdatedAugust5,2016expressedanunqualifiedopinionthereon.
SanJose,California
August5,2016
115
/s/ERNST&YOUNGLLP