Best Buy 2006 Annual Report Download - page 68

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54
Report of Independent Registered Public Accounting Firm on Consolidated Financial Statements
Shareholders and Board of Directors
Best Buy Co., Inc.
We have audited the accompanying consolidated balance sheet of Best Buy Co., Inc. andsubsidiaries as of February 26,
2005, and the related consolidated statements of earnings, changesin shareholders’ equity, and cash flows for the years
ended February 26,2005 and February 28,2004. Our audits also included the financial statement schedule listed in
Item 15(a) for the years endedFebruary 26, 2005 and February 28, 2004. These financial statements and schedule are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and
schedule based on ouraudits.
We conducted ouraudits in accordance with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that weplan 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 supportingthe
amounts and disclosures in the financial statements. An audit also includes assessing the accountingprinciplesusedand
significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audits provide areasonablebasis forour opinion.
In our opinion, thefinancial statements referred to above present fairly, in all material respects, the consolidatedfinancial
position of Best Buy Co., Inc. and subsidiaries at February 26, 2005, and the consolidated results of their operations and
their cash flows for the years ended February 26,2005 and February 28, 2004, in conformity with U.S. generally accepted
accountingprinciples. Also, in our opinion, the related financial statement schedule for the years ended February26, 2005
and February 28, 2004, when considered in relation to the basic financial statements taken as a whole, presents fairly, in all
material respects, the information set forth therein.
Minneapolis, Minnesota
May 5, 2005