Aarons 2004 Annual Report Download - page 36

In our opinion, the financial statements referred to above
present fairly, in all material respects, the consolidated
financial position of Aaron Rents, Inc. and Subsidiaries
as of December 31, 2004 and 2003, and the consolidated
results of their operations and their cash flows for each of
the three years in the period ended December 31, 2004, in
conformity with accounting principles generally accepted in
the United States.
We also have audited, in accordance with the standards
of the Public Company Accounting Oversight Board (United
States), the effectiveness of Aaron Rents, Inc.’s internal
control over financial reporting as of December 31, 2004
based on criteria established in Internal Control — Integrated
Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our
report dated March 7, 2005 expressed an unqualified
opinion thereon.
Atlanta, Georgia
March 7, 2005
34
The Board of Directors and Shareholders of
Aaron Rents, Inc.
We have audited management’s assessment, included in
the accompanying Management Report on Internal Control
Over Financial Reporting, that Aaron Rents, Inc. maintained
effective internal control over financial reporting as of
December 31, 2004, based on criteria established in Internal
Control — Integrated Framework issued by the Committee
of Sponsoring Organizations of the Treadway Commission
(the COSO criteria). Aaron Rents, Inc.’s management is
responsible for maintaining effective internal control over
financial reporting and for its assessment of the effectiveness
of internal control over financial reporting. Our responsibili-
ty is to express an opinion on management’s assessment and
an opinion on the effectiveness of the company’s internal
control over financial reporting based on our audit.
We conducted our audit in accordance with the standards
of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether
effective internal control over financial reporting was main-
tained in all material respects. Our audit included obtaining
an understanding of internal control over financial reporting,
evaluating management’s assessment, testing and evaluating
the design and operating effectiveness of internal control, and
performing such other procedures as we considered necessary
in the circumstances. We believe that our audit provides a
reasonable basis for our opinion.
A company’s internal control over financial reporting is a
process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with
generally accepted accounting principles. A company’s inter-
nal control over financial reporting includes those policies
and procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company
are being made only in accordance with authorizations of
management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detec-
tion of unauthorized acquisition, use, or disposition of the
company’s assets that could have a material effect on the
financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures
may deteriorate.
In our opinion, management’s assessment that Aaron
Rents, Inc. maintained effective internal control over
financial reporting as of December 31, 2004, is fairly stated,
in all material respects, based on the COSO criteria. Also, in
our opinion, Aaron Rents, Inc. maintained, in all material
respects, effective internal control over financial reporting
as of December 31, 2004, based on the COSO criteria.
We also have audited, in accordance with the standards
of the Public Company Accounting Oversight Board (United
States), the consolidated balance sheets of Aaron Rents, Inc.
as of December 31, 2004 and 2003, and the related consoli-
dated statements of income, shareholders’ equity, and cash
flows for each of the three years in the period ended
December 31, 2004 of Aaron Rents, Inc. and our report
dated March 7, 2005 expressed unqualified opinion thereon.
Atlanta, Georgia
March 7, 2005
Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statements
The Board of Directors and Shareholders of
Aaron Rents, Inc.
We have audited the accompanying consolidated balance
sheets of Aaron Rents, Inc. and Subsidiaries as of December
31, 2004 and December 31, 2003, and the related consoli-
dated statements of earnings, shareholders’ equity, and
cash flows for each of the three years in the period ended
December 31, 2004. These financial statements are the
responsibility of the Company’s management. Our responsi-
bility is to express an opinion on these financial statements
based on our audits.
We conducted our audits in accordance with the standards
of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the finan-
cial statements are free of material misstatement. 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 sig-
nificant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting