Symantec 2012 Annual Report Download - page 142
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presents fairly, in all material respects, the information set forth therein. Symantec Corporation maintained, in all
material respects, effective internal control over financial reporting as of March 30, 2012, based on criteria
established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission.
As discussed in Note 4 to the consolidated financial statements, the Company adopted updated authoritative
accounting guidance related to impairment testing of goodwill in the first quarter of fiscal 2012 by recording a
cumulative-effect adjustment to beginning Accumulated deficit.
Management excluded from its assessment of the effectiveness of the Company’s internal control over
financial reporting as of March 30, 2012, the internal control over financial reporting of Clearwell Systems Inc.
(“Clearwell”), acquired on June 24, 2011, and LiveOffice LLC (“LiveOffice”) acquired on January 13, 2012, as
discussed in Note 3 of the Notes to Consolidated Financial Statements. As of March 30, 2012, total tangible
assets subject to these acquisitions’ internal control over financial reporting represented $84 million, or less than
1% of the consolidated total assets. Total net revenue subject to these acquisitions’ internal control over financial
reporting represented $51 million, or less than 1%, of the consolidated total net revenue for the fiscal year ended
March 30, 2012. Our audit of internal control over financial reporting of Symantec Corporation also excluded an
evaluation of the internal control over financial reporting of Clearwell and LiveOffice.
/s/ KPMG LLP
Santa Clara, California
May 21, 2012
63