Bed, Bath and Beyond 2004 Annual Report Download - page 28

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BED BATH & BEYOND ANNUAL REPORT 2004
26
The Board of Directors and Shareholders
Bed Bath & Beyond Inc.:
We have audited the accompanying consolidated balance sheets of Bed Bath & Beyond Inc. and subsidiaries as of
February 26, 2005 and February 28, 2004, and the related consolidated statements of earnings, shareholders’ equity,
and cash flows for each of the fiscal years in the three-year period ended February 26, 2005. These consolidated
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion
on these consolidated 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, evi-
dence 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, the consolidated financial statements referred to above present fairly, in all material respects, the
financial position of Bed Bath & Beyond Inc. and subsidiaries as of February 26, 2005 and February 28, 2004, and the
results of their operations and their cash flows for each of the years in the three-year period ended February 26,
2005, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the effectiveness of Bed Bath & Beyond Inc. and subsidiaries’ internal control over financial reporting as of
February 26, 2005, based on criteria established in Internal Control-Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO), and our report dated May 11, 2005 expressed an
unqualified opinion on management’s assessment of, and the effective operation of, internal control over financial
reporting.
New York, New York
May 11, 2005
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM