Laserfiche WebLink
JERNST & YOUNG f Ernst & Young LLP ■ Pho uu: 1 Si 977 t.100 <br />Nrndh I iguero 'l "trust V• A nm <br />\n};c1c,, (*aliforni,i 'hull? 5418 <br />Report of Independent Auditors <br />The Board of Directors and Stockholders <br />ValleyCrest Holding Co. <br />We have audited the accompanying consolidated balance sheet of ValleyCrest Holding Co. and <br />Subsidiaries, a Delaware corporation, as of April 30, 2008, and the related consolidated <br />statements of operations, stockholders' equity and comprehensive income, and cash flows for the <br />year then ended. These consolidated financial statements are the responsibility of the Company's <br />management. Our responsibility is to express an opinion on these consolidated financial <br />statements based on our audit. <br />We conducted our audit in accordance with auditing standards generally accepted in the United <br />States. Those standards require that we plan and perform the audit to obtain reasonable assurance <br />about whether the financial statements are free of material misstatement. We were not engaged <br />to perform an audit of the Company's internal control over financial reporting. Our audit <br />includes consideration of internal control over financial reporting as a basis for designing audit <br />procedures that are appropriate in the circumstances, but not for the purpose of expressing an <br />opinion on the effectiveness of the Company's internal control over financial reporting. <br />Accordingly, we express no such opinion. An audit also includes examining, on a test basis, <br />evidence supporting the amounts and disclosures in the financial statements and assessing the <br />accounting principles used and significant estimates made by management, as well as evaluating <br />the overall financial statement presentation. We believe that our audit provides a reasonable basis <br />for our opinion. <br />In our opinion, the consolidated financial statements referred to above present fairly, in all <br />material respects, the consolidated financial position of ValleyCrest Holding Co. and <br />Subsidiaries as of April 30, 2008, and the consolidated results of their operations and their cash <br />flows for the year then ended, in conformity with U.S. generally accepted accounting principles. <br />June 27, 2008 <br />-f ��7 4LP <br />ValleyCrest Lan &cape Main; <br />16100 NW 1271h Ave. <br />Miami, FL 33018 -1051 <br />