Symantec 1996 Annual Report Download - page 43

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The Board of Directors and Stockholders
Symantec Corporation
We have audited the accompanying consolidated balance sheets of Symantec Corporation as of Ma r c h 3 1 ,
1996 and 1995, and the related consolidated statements of operations, stockholders’ equity and cash flows
for each of the three years in the period ended March 31, 1996. Our audits also included the financial
statement schedule listed in the Index at Item 14(a). T hese financial statements and schedule are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these consoli-
dated financial statements and schedule based on our audits. We did not audit the financial statements or
schedule of Delrina Corporation, which statements reflect total assets and net income constituting 29%
and 14%, respectively, of the related 1995 consolidated financial statement totals, and which statements
reflect net income of approximately $12.7 million related to the 1994 consolidated net loss. Those state-
ments we r e audited by other auditors whose re p o rt has been furnished to us, and our opinion, insofar as
it relates to data included for Delrina Corporation, is based solely on the report of the other auditors.
We conducted our audits in accordance with generally accepted auditing standards. Those standard s
re q u i r e 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 s u p p o r t i n g
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 eva l u a ting the overall financial
statement pre s e n t ation. We believe that our audits and the re p o rt of other auditors provide a re a s o n a b l e
basis for our opinion.
In our opinion, based on our audits and the report of other auditors, the financial statements referred
to above present fairly, in all material respects, the consolidated financial position of Symantec Corporation
at March 31, 1996 and 1995, and the consolidated results of its operations and its cash flows for each of
the three years in the period ended March 31, 1996, in conformity with generally accepted accounting
principles. Also, in our opinion, based upon our audits and the re p o r t of other auditors, the related financial
statement schedule, when considered in relation to the basic financial statements taken as a whole, pre s e n t s
fairly in all material respects the information set forth therein.
Ernst & Young LLP
San Jose, California
April 24, 1996
Re p o rt of Ernst & Young LLP, Independent Au d i t o r s