XM Radio 2013 Annual Report Download - page 85

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Report of Independent Registered Public Accounting Firm
The Board of Directors
Sirius XM Radio Inc. and subsidiaries:
Report on the Financial Statements
We have audited the accompanying consolidated financial statements of Sirius XM Radio Inc. and its
subsidiaries, which comprise the consolidated balance sheets as of December 31, 2013 and 2012, and the related
consolidated statements of comprehensive income, stockholder equity, and cash flows for each of the years in the
three-year period ended December 31, 2013, and the related notes to the consolidated financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial
statements in accordance with U.S. generally accepted accounting principles; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of
consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of
America and in accordance with the auditing 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 consolidated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the consolidated financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
Opinion
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of Sirius XM Radio Inc. and its subsidiaries as of December 31, 2013 and 2012, and the
results of their operations and their cash flows for each of the years in the three-year period ended December 31,
2013 in accordance with U.S. generally accepted accounting principles.
/s/ KPMG LLP
New York, New York
February 4, 2014
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