Sprint - Nextel 2006 Annual Report Download - page 80

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Sprint Nextel Corporation:
We have audited the accompanying consolidated balance sheets of Sprint Nextel Corporation and subsidiaries
as of December 31, 2006 and 2005, and the related consolidated statements of operations, cash flows and
shareholders’ equity for each of the years in the three-year period ended December 31, 2006. In connection
with our audits of the consolidated financial statements, we also have audited the financial statement schedule,
Schedule II — Valuation and Qualifying Accounts. These consolidated financial statements and financial
statement schedule are the responsibility of the Company’s management. Our responsibility is to express an
opinion on these consolidated financial statements and financial statement schedule 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 Sprint Nextel Corporation 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. Also in our opinion,
the related financial statement schedule, when considered in relation to the basic consolidated financial
statements taken as a whole, presents fairly, in all material respects, the information set forth therein.
As discussed in note 17 to the consolidated financial statements, the Company changed its method of
quantifying errors in 2006. As discussed in note 1 to the consolidated financial statements, the Company
adopted the provisions of FASB Interpretation No. 47, Accounting for Conditional Asset Retirement
Obligations, in the fourth quarter of 2005.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of Sprint Nextel Corporation’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 1,
2007 expressed an unqualified opinion on management’s assessment of, and the effective operation of, internal
control over financial reporting.
/s/ KPMG LLP
McLean, Virginia
March 1, 2007
F-3