This excerpt taken from the MRVL 8-K filed Jan 13, 2006.
INDEPENDENT AUDITORS REPORT
The Board of Directors
We have audited the accompanying statement of net assets to be sold as of April 3, 2005 and the related statement of direct revenues and direct operating expenses for the year ended April 3, 2005 of the Hard Disk and Tape Drive Controller business of QLogic Corporation (the Business). These financial statements are the responsibility of the Business management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with the auditing standards generally accepted in the United States of America. 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 consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Business internal control over financial reporting. Accordingly, we express no such opinion. 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 audit provides a reasonable basis for our opinion.
The accompanying financial statements were prepared to present the net assets to be sold and the direct revenues and direct operating expenses of the Business, pursuant to the basis of presentation as described in Note 2, and are not intended to be a complete presentation of the Business financial position, results of operations, or cash flows.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets to be sold of the Business as of April 3, 2005, and the Business direct revenues and direct operating expenses for the year ended April 3, 2005, as described in Note 2, in conformity with accounting principles generally accepted in the United States of America.