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Table of Contents
Report of KPMG LLP, Independent Registered Public Accounting Firm
The Board of Directors and Shareholders
Apple Inc.:
We have audited the accompanying consolidated balance sheet of Apple Inc. and subsidiaries (the Company) as of September 27, 2008, and the
related consolidated statements of operations, shareholders’
equity, and cash flows for the years ended September 27, 2008 and September 29,
2007. These consolidated financial statements are the responsibility of the Company’
s management. Our responsibility is to express an opinion
on these consolidated financial statements based on our audits.
We conducted our audits in accordance with generally accepted 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 financial statements are free
of material misstatement. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, 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 Apple Inc.
and subsidiaries as of September 27, 2008 and the results of their operations and their cash flows for the years ended September 27, 2008 and
September 29, 2007 in conformity with U.S. generally accepted accounting principles.
As discussed in note 1 to the Consolidated Financial Statements, effective September 30, 2007, the Company adopted Financial Accounting
Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109.
/s/ KPMG LLP
Mountain View, California
November 4, 2008
91