Best Buy 2005 Annual Report Download - page 111

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(principal financial and accounting officer), evaluated the
Item 9. Changes in and Disagreements With effectiveness of our disclosure controls and procedures
Accountants on Accounting and Financial pursuant to Rule 13a-15(b) under the Exchange Act, as of
Disclosure. February 26, 2005. Based on that evaluation, our Chief
On May 10, 2005, contemporaneously with the Executive Officer and Chief Financial Officer concluded
conclusion of the audit for our fiscal year ended that our disclosure controls and procedures are effective
February 26, 2005, we dismissed Ernst & Young LLP in ensuring that information required to be disclosed by
(E&Y) as our independent registered public accounting us in the reports we file or submit under the Exchange Act
firm. We had previously announced that the Audit is recorded, processed, summarized and reported within
Committee of our Board of Directors and E&Y had the time periods specified in the SEC’s rules and forms.
determined that E&Y would be dismissed as our
independent registered public accounting firm, effective at Management’s Annual Report on Internal
the conclusion of such audit. The reports of E&Y on our Control over Financial Reporting
financial statements for the fiscal years ended Management’s annual report on our internal control over
February 26, 2005, and February 28, 2004, and on financial reporting is included in Item 8, Financial
internal control over financial reporting as of Statements and Supplementary Data, of this Annual
February 26, 2005, did not contain an adverse opinion Report on Form 10-K.
or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting Attestation Report of the Registered Public
principles. In connection with the audits for the two most Accounting Firm
recent fiscal years and through the date of dismissal, there
were no disagreements with E&Y on any matter of E&Y’s attestation report on management’s assessment and
accounting principles or practices, financial statement the effectiveness of our internal control over financial
disclosure, or auditing scope or procedure, which, if not reporting is included in Item 8, Financial Statements and
resolved to the satisfaction of E&Y, would have caused Supplementary Data, of this Annual Report on Form 10-K.
E&Y to make reference thereto in their reports on the
financial statements for such fiscal years. During the two Changes in Internal Control over Financial
most recent fiscal years and through the date of dismissal, Reporting
there have been no ‘‘reportable events,’’ as such term is There were no changes in internal control over financial
defined in Item 304(a)(1)(v) of Regulation S-K. reporting during the fiscal fourth quarter ended
Effective February 27, 2005, we engaged Deloitte & February 26, 2005, that have materially affected, or are
Touche LLP (D&T) as our independent registered public reasonably likely to materially affect, our internal control
accounting firm for fiscal 2006. The engagement of D&T over financial reporting.
was approved by the Audit Committee.
Certifications
During the two most recent fiscal years and prior to its
engagement, we had not consulted with D&T regarding The certifications of our Chief Executive Officer and our
any of the matters or reportable events set forth in Item Chief Financial Officer required by Section 302 of the
304(a)(2)(i) and (ii) of Regulation S-K. Sarbanes-Oxley Act of 2002 are filed as Exhibits 31.1
and 31.2, respectively, to this Annual Report on
Item 9A. Controls and Procedures. Form 10-K. As required by section 303A.12(a) of the
New York Stock Exchange Listed Company Manual, our
Disclosure Controls and Procedures
Our management, including the Chief Executive Officer
(principal executive officer) and Chief Financial Officer
95