Twenty-First Century Fox 2008 Annual Report Download - page 81

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NEWSCORP
Report of Independent Registered Public Accounting Firm on
Financial Statements
To the Stockholders and Board of Directors of News Corporation:
We have audited the accompanying consolidated balance sheets of News Corporation as of June 30, 2008 and 2007, and the related
consolidated statements of operations, cash flows, and stockholders’ equity and other comprehensive income for each of the three years in the
period ended June 30, 2008. 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 News
Corporation at June 30, 2008 and 2007, and the consolidated results of their operations and their cash flows for each of the three years in the
period ended June 30, 2008, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 2 to the financial statements, the Company changed its method of accounting for uncertain tax positions, effective
July 1, 2007, pension and other post-retirement obligations, effective June 30, 2007, and the valuation of certain acquired identifiable intangible
assets, effective July 1, 2005.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), News
Corporation’s internal control over financial reporting as of June 30, 2008, 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 8, 2008 expressed an unqualified
opinion thereon.
New York, New York
August 8, 2008
80 NEWSCORP 2008 Annual Report