Travelzoo 2006 Annual Report Download - page 59

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
Travelzoo Inc.:
We have audited the accompanying consolidated balance sheets of Travelzoo Inc. and subsidiaries (the
Company) as of December 31, 2006 and 2005, and the related consolidated statements of operations, stockholders’
equity and comprehensive income, and cash flows for each of the years in the three-year period ended December 31,
2006. These consolidated financial statements are the responsibility of the Company’s management. Our respon-
sibility is to express an opinion on these consolidated 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 financial position of Travelzoo Inc. and subsidiaries as of December 31, 2006 and 2005, and the results of their
operations and their cash flows for each of the years in the three-year period ended December 31, 2006, 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 Travelzoo Inc.’s internal control over financial reporting as of December 31,
2006, based on criteria established in Internal Control — Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March 14, 2007 expressed
an unqualified opinion on management’s assessment of, and the effective operation of, internal control over
financial reporting.
/s/ KPMG LLP
Mountain View, California
March 14, 2007
32