Costco 2013 Annual Report Download - page 43

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41
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Costco Wholesale Corporation:
We have audited the accompanying consolidated balance sheets of Costco Wholesale Corporation
and subsidiaries as of September 1, 2013 and September 2, 2012, and the related consolidated statements
of income, comprehensive income, equity, and cash flows for the 52-week period ended September 1, 2013,
the 53-week period ended September 2, 2012 and the 52-week period ended August 28, 2011. 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, 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 consolidated financial statements referred to above present fairly, in all material respects,
the financial position of Costco Wholesale Corporation and subsidiaries as of September 1, 2013 and
September 2, 2012, and the results of their operations and their cash flows for the 52-week period ended
September 1, 2013, the 53-week period ended September 2, 2012, and the 52-week period ended August
28, 2011, 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), Costco Wholesale Corporation’s internal control over financial reporting as of September
1, 2013, based on criteria established in Internal Control - Integrated Framework (1992) issued by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated October
16, 2013 expressed an unqualified opinion on the effectiveness of the Company’s internal control over
financial reporting.
Seattle, Washington
October 16, 2013