Build-A-Bear Workshop 2012 Annual Report Download - page 51

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BUILD-A-BEAR WORKSHOP, INC. 2012 FORM 10-K
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
Build-A-Bear Workshop, Inc.
We have audited the accompanying consolidated balance sheets of Build-A-Bear Workshop, Inc. and subsidiaries
(collectively, the Company) as of December 29, 2012 and December 31, 2011, and the related consolidated statements of
operations, comprehensive income (loss), stockholders’ equity, and cash flows for each of the two years in the period ended
December 29, 2012. Our audits also included the financial statement schedule listed in the Index at Item 15(a)(2). 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 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, evidence 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 financial statements referred to above present fairly, in all material respects, the consolidated financial
position of Build-A-Bear Workshop, Inc. and subsidiaries at December 29, 2012 and December 31, 2011, and the consolidated
results of their operations and their cash flows for each of the two years in the period ended December 29, 2012 in conformity
with U.S. generally accepted accounting principles. Also, in our opinion, the financial statement schedule, when considered in
relation to the basic financial statements taken as a whole, presents fairly in all material respects the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Build-A-Bear Workshop, Inc. and subsidiaries’ internal control over financial reporting as of December 29, 2012,
based on criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission and our report dated March 14, 2013 expressed an unqualified opinion thereon.
/s/ Ernst & Young
St. Louis, Missouri
March 14, 2013
43