U-Haul 2005 Annual Report Download - page 48
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TheBoardofDirectorsandStockholder
SACHoldingIICorporation
(AWholly-OwnedSubsidiary)
We have audited the accompanying consolidated balance sheet of SAC Holding II Corporation (A Wholly-Owned
Subsidiary)asofMarch31,2005andtherelatedconsolidatedstatementsofoperations,stockholder’sdeficit,comprehensive
lossandcashflowsfortheyearthenended.ThefinancialstatementsaretheresponsibilityoftheCompany’smanagement.
Ourresponsibilityistoexpressanopinionontheconsolidatedfinancialstatementsbasedonouraudit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America.
Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amountsanddisclosuresinthefinancialstatements.Anauditalsoincludesassessingtheaccountingprinciplesusedand
significantestimatesmadebymanagement,aswellasevaluatingtheoverallfinancialstatementpresentation.Webelieve
thatourauditprovidesareasonablebasisforouropinion.
Inouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,theconsolidatedfinancial
positionofSACHoldingIICorporation(AWholly-OwnedSubsidiary)atMarch31,2005,andtheconsolidatedresults
oftheiroperationsandtheircashflowsfortheyearendedinconformitywithaccountingprinciplesgenerallyaccepted
intheUnitedStatesofAmerica.
/s/Semple&Cooper,LLP
CertifiedPublicAccountants
Phoenix,Arizona
June16,2005
Independent Auditors’ Report