Advance Auto Parts 2004 Annual Report Download - page 53

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Advance฀Auto฀Parts,฀Inc.฀and฀Subsidiaries
51
To฀the฀Board฀of฀Directors฀and฀Stockholders฀of
Advance฀Auto฀Parts,฀Inc.฀and฀Subsidiaries
Roanoke,฀Virginia
฀ We฀ have฀ audited฀ the฀ accompanying฀ consolidated฀ balance฀ sheets฀ of฀ Advance฀ Auto฀ Parts,฀ Inc.฀ and฀ subsidiaries฀ (the฀
Company)฀as฀of฀January฀1,฀2005฀and฀January฀3,฀2004,฀and฀the฀related฀consolidated฀statements฀of฀operations,฀stockholders’฀
equity,฀and฀cash฀flows฀for฀each฀of฀the฀three฀years฀in฀the฀period฀ended฀January฀1,฀2005.฀These฀financial฀statements฀are฀the฀
responsibility฀of฀the฀Company’s฀management.฀Our฀responsibility฀is฀to฀express฀an฀opinion฀on฀the฀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฀
financial฀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฀ significant฀ 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.
฀ In฀our฀opinion,฀such฀consolidated฀financial฀statements฀present฀fairly,฀in฀all฀material฀respects,฀the฀financial฀position฀of฀
Advance฀Auto฀Parts,฀Inc.฀and฀subsidiaries฀as฀of฀January฀1,฀2005฀and฀January฀3,฀2004,฀and฀the฀results฀of฀their฀operations฀
and฀ their฀ cash฀ flows฀ for฀ each฀ of฀ the฀ three฀ years฀ in฀ the฀ period฀ ended฀ January฀ 1,฀ 2005,฀ in฀ conformity฀ with฀ accounting฀฀
principles฀generally฀accepted฀in฀the฀United฀States฀of฀America.
฀ We฀have฀also฀audited,฀in฀accordance฀with฀the฀standards฀of฀the฀Public฀Company฀Accounting฀Oversight฀Board฀(United฀
States),฀the฀effectiveness฀of฀the฀Company’s฀internal฀control฀over฀financial฀reporting฀as฀of฀January฀1,฀2005,฀based฀on฀the฀
criteria฀established฀in฀Internal฀Control—Integrated฀Framework฀issued฀by฀the฀Committee฀of฀Sponsoring฀Organizations฀of฀
the฀ Treadway฀ Commission฀ and฀ our฀ report฀ dated฀ March฀ 14,฀ 2005฀ expressed฀ an฀ unqualified฀ opinion฀ on฀ management’s฀
assessment฀of฀the฀effectiveness฀of฀the฀Company’s฀internal฀control฀over฀financial฀reporting฀and฀an฀unqualified฀opinion฀on฀
the฀effectiveness฀of฀the฀Company’s฀internal฀control฀over฀financial฀reporting.
McLean,฀Virginia
March฀14,฀2005
Report฀of฀Independent฀Registered฀Public฀Accounting฀Firm