Levitt Report - NHL.com

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Appendix FBoard of Governors ofThe National Hockey LeagueForm of Supplementary Audit ReportWe have audited the accompanying balance sheets of __________Member Club(the “Member Club”) as of _________, and the related statements of operations, changesin stockholders’ equity (deficit) and cash flows for the year(s) then ended. These financialstatements are the responsibility of the Member Club’s management. Our responsibility isto express an opinion on these financial statements based on our audit(s). We conductedour audit(s) in accordance with auditing standards generally accepted in the United States[Canada - for Canadian Teams]. Those standards require that we plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supportingthe amounts and disclosures in the financial statements. An audit also includes assessingthe accounting principles used and significant estimates made by management, as well asevaluating the overall financial statement presentation. We believe that our audit(s)provide a reasonable basis for our opinion.In our opinion, the financial statements referred to above present fairly, in all materialrespects, the financial position of _______ Member Club at _________, and the results ofits operations and its cash flows for the year(s) then ended in conformity with accountingprinciples generally accepted in the United States [Canada - for Canadian Teams].Our audit(s) was (were) conducted for the purpose of forming an opinion on the financialstatements taken as a whole. The Unified Report of Operations Schedule I and XII for the________ Member Club is presented for purposes of additional analysis and is not arequired part of the financial statements. Such information has been subjected to theauditing procedures applied in our audit(s) of the financial statements and, in our opinion,is fairly stated in all material respects in relation to the financial statements taken aswhole.
Appendix GForm of Agreed Upon Procedures Report-affiliated arenaTo the National Hockey League and ClubWe have performed the procedures enumerated below, which were agreed to by you,solely to assist you with respect to the preparation of the National Hockey League’s (the“NHL”) Unified Report of Operations as of June 30, 2003 and for the year then ended.The agreed-upon procedures engagement was conducted in accordance with attestationstandards established by the American Institute of Certified Public Accountants. Thesufficiency of these procedures is solely the responsibility of those parties specified inthis report. Consequently, we make no representation regarding the sufficiency of theprocedures described below either for the purpose for which this report has beenrequested or for any other purpose. The procedures that we performed and our findingsare as follows:1. We have read the instructions for the preparation of the NHL’s Unified Reportof Operations for the 2002-2003 season.2. We obtained the completed Unified Report of Operations for the (team) forthe 2002-2003 season.3. We read the information provided in response to Schedule XIII of the UnifiedReport of Operations for the 2002-2003 season.4. For the financial data included on Schedule XIII in the column “TotalRevenues/Expenses Allocable,” we agreed the amounts to the correspondingamounts in one or more audited financial statements that include the team andthe affiliated entities or in schedules that reconcile to such financialstatements.5. We agreed each amount in the “Club” and “Affiliated” column to a scheduleallocating the corresponding amount in the “Total Revenues/ExpensesAllocable” column in accordance with the URO instructions. Further, wechecked that the description in the “Allocation Basis” column is consistentwith the allocation method followed.6. We tested the mathematical accuracy of the financial data included onSchedule XIII.7. For the statistical data included on Schedule XIV, we agreed the amounts toTicketmaster or other third party reports.
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independent review of thecombined f
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Conclusions:In accordance with my a
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The revenues and expenses reported
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Phase III - Review of 2002-2003:For
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8. We tested the mathematical accur
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.Buffalo, the agreed-upon procedure
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from the licensing of suites and cl
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formula which takes into account: c
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However, with respect to broadcasti
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ooks. Similarly, the combined URO r
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team operations are insufficient. F
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Appendix ATEAMMighty Ducks of Anahe
Page 29 and 30: UNIFIED REPORT OF OPERATIONSREPORTI
Page 35 and 36: National Hockey LeagueUnified Repor
Page 75 and 76: Appendix C (cont’d)Arena Novelty
Page 77: Appendix EURO REPORTINGOTHER COSTS!
Page 81 and 82: Appendix HForm Of Agreed Upon Proce
Page 83 and 84: Appendix INHL Summary Statement of
Page 85: Lynn E. TurnerAppendix KMr. Turner
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