CHS 2011 Annual Report Download - page 26

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2011 CHS 25
To the Board of Directors and Members and Patrons of CHS Inc.:
In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of
operations, of equities and comprehensive income and of cash flows present fairly, in all material respects,
the financial position of CHS Inc. and its subsidiaries at August 31, 2011 and 2010, and the results of their
operations and their cash flows for each of the three years in the period ended August 31, 2011, in conformity with
accounting principles generally accepted in the United States of America. These financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these financial
statements based on our audits. We conducted our audits of these statements 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, assessing the accounting principles used and significant estimates made by management,
and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
Minneapolis, Minnesota
November 10, 2011
FINANCIAL INTRODUCTION
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM