Advance Auto Parts 2011 Annual Report Download - page 55
Download and view the complete annual report
Please find page 55 of the 2011 Advance Auto Parts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.)
0$1$*(0(17¶65(325721,17(51$/&21752/29(5
),1$1&,$/5(3257,1*
0DQDJHPHQWRI$GYDQFH$XWR3DUWV,QFDQGLWVVXEVLGLDULHVFROOHFWLYHO\WKH³&RPSDQ\´LVUHVSRQVLEOHIRU
HVWDEOLVKLQJDQGPDLQWDLQLQJDGHTXDWHLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDVGHILQHGLQ5XOHD±IXQGHU
WKH6HFXULWLHV([FKDQJH$FWRIDVDPHQGHG7KH&RPSDQ\¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJLVD
SURFHVVGHVLJQHGXQGHUWKHVXSHUYLVLRQRIWKH&RPSDQ\¶VSULQFLSDOH[HFXWLYHRIILFHUDQGSULQFLSDOILQDQFLDORIILFHU
DQGHIIHFWHGE\WKH&RPSDQ\¶V%RDUGRI'LUHFWRUVPDQDJHPHQWDQGRWKHUSHUVRQQHOWRSURYLGHUHDVRQDEOH
DVVXUDQFHUHJDUGLQJWKHUHOLDELOLW\RIILQDQFLDOUHSRUWLQJDQGWKHSUHSDUDWLRQRIWKH&RPSDQ\¶VILQDQFLDOVWDWHPHQWV
IRUH[WHUQDOSXUSRVHVLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD
2XULQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJLQFOXGHVSROLFLHVDQGSURFHGXUHVWKDWSHUWDLQWRWKHPDLQWHQDQFHRI
UHFRUGVWKDWLQUHDVRQDEOHGHWDLODFFXUDWHO\DQGIDLUO\UHIOHFWWKHWUDQVDFWLRQVDQGGLVSRVLWLRQVRIWKHDVVHWVRIWKH
&RPSDQ\SURYLGHUHDVRQDEOHDVVXUDQFHWKDWWUDQVDFWLRQVDUHUHFRUGHGDVQHFHVVDU\WRSHUPLWSUHSDUDWLRQRI
ILQDQFLDOVWDWHPHQWVLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFD
DQGWKDWUHFHLSWVDQGH[SHQGLWXUHVRIWKH&RPSDQ\DUHEHLQJPDGHRQO\LQDFFRUGDQFHZLWKDXWKRUL]DWLRQVRI
PDQDJHPHQWDQGGLUHFWRUVRIWKH&RPSDQ\DQGSURYLGHUHDVRQDEOHDVVXUDQFHUHJDUGLQJSUHYHQWLRQRUWLPHO\
GHWHFWLRQRIXQDXWKRUL]HGDFTXLVLWLRQXVHRUGLVSRVLWLRQRIWKH&RPSDQ\¶VDVVHWVWKDWFRXOGKDYHDPDWHULDOHIIHFW
RQWKHILQDQFLDOVWDWHPHQWV
$VRI-DQXDU\PDQDJHPHQWLQFOXGLQJWKH&RPSDQ\¶VSULQFLSDOH[HFXWLYHRIILFHUDQGSULQFLSDOILQDQFLDO
RIILFHUDVVHVVHGWKHHIIHFWLYHQHVVRIWKH&RPSDQ\¶VLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJEDVHGRQWKHFULWHULD
HVWDEOLVKHGLQ,QWHUQDO&RQWURO±,QWHJUDWHG)UDPHZRUNLVVXHGE\WKH&RPPLWWHHRI6SRQVRULQJ2UJDQL]DWLRQVRI
WKH7UHDGZD\&RPPLVVLRQ&262%DVHGRQWKLVDVVHVVPHQWPDQDJHPHQWKDVGHWHUPLQHGWKDWWKH&RPSDQ\¶V
LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJDVRI-DQXDU\LVHIIHFWLYH%HFDXVHRIWKHLQKHUHQWOLPLWDWLRQVRI
LQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJLQFOXGLQJWKHSRVVLELOLW\RIFROOXVLRQRULPSURSHUPDQDJHPHQWRYHUULGHRI
FRQWUROVPDWHULDOPLVVWDWHPHQWVGXHWRHUURURUIUDXGPD\QRWEHSUHYHQWHGRUGHWHFWHGRQDWLPHO\EDVLV$OVR
SURMHFWLRQVRIDQ\HYDOXDWLRQRIWKHHIIHFWLYHQHVVRIWKHLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJWRIXWXUHSHULRGVDUH
VXEMHFWWRWKHULVNWKDWWKHFRQWUROVPD\EHFRPHLQDGHTXDWHEHFDXVHRIFKDQJHVLQFRQGLWLRQVRUWKDWWKHGHJUHHRI
FRPSOLDQFHZLWKWKHSROLFLHVRUSURFHGXUHVPD\GHWHULRUDWH
'HORLWWH7RXFKH//3WKH&RPSDQ\¶VLQGHSHQGHQWUHJLVWHUHGSXEOLFDFFRXQWLQJILUPZKRDXGLWHGWKH&RPSDQ\¶V
FRQVROLGDWHGILQDQFLDOVWDWHPHQWVKDVLVVXHGDQDWWHVWDWLRQUHSRUWRQWKH&RPSDQ\¶VLQWHUQDOFRQWURORYHUILQDQFLDO
UHSRUWLQJDVRI-DQXDU\ZKLFKLVLQFOXGHGRQSDJH)KHUHLQ
'DUUHQ5-DFNVRQ0LFKDHO$1RURQD
&KLHI([HFXWLYH2IILFHUDQG'LUHFWRU ([HFXWLYH9LFH3UHVLGHQWDQG&KLHI)LQDQFLDO2IILFHU
0DUFK