AutoZone 2004 Annual Report Download - page 43
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ReportofIndependentRegisteredPublicAccountingFirm
TheBoardofDirectorsandStockholders
AutoZone,Inc.
WehaveauditedtheaccompanyingconsolidatedbalancesheetsofAutoZone,Inc.asofAugust28,2004andAugust30,2003,andthe
relatedconsolidatedstatementsofincome,changesinstockholders’equityandcashflowsforeachofthethreeyearsintheperiodended
August 28, 2004. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an
opiniononthesefinancialstatementsbasedonouraudits.
WeconductedourauditsinaccordancewiththestandardsofthePublicCompanyAccountingOversightBoard(UnitedStates).Thosestandards
requirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmis-
statement.Anauditincludesexamining,onatestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements.An
audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overallfinancialstatementpresentation.Webelievethatourauditsprovideareasonablebasisforouropinion.
Inouropinion,theconsolidatedfinancialstatementsreferred toabove presentfairly, inallmaterialrespects, theconsolidatedfinancial
positionofAutoZone,Inc.asofAugust28,2004andAugust30,2003,andtheconsolidatedresultsofitsoperationsanditscashflows
foreachofthethreeyearsintheperiodendedAugust28,2004,inconformitywithU.S.generallyacceptedaccountingprinciples.
AsdiscussedinNoteA,“VendorAllowancesandAdvertisingCosts,”totheconsolidatedfinancialstatements,infiscal2003,theCompany
adoptedEmergingIssuesTaskForceIssueNo.02-16,“AccountingbyaCustomer(IncludingaReseller)forCertainConsiderationReceived
fromaVendor.”
Memphis,Tennessee
September21,2004