Costco 2014 Annual Report Download - page 41

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
Costco Wholesale Corporation:
We have audited the accompanying consolidated balance sheets of Costco Wholesale Corporation
and subsidiaries as of August 31, 2014 and September 1, 2013, and the related consolidated statements
of income, comprehensive income, equity, and cash flows for the 52-week periods ended August 31, 2014
and September 1, 2013, and the 53-week period ended September 2, 2012. 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 August 31, 2014
and September 1, 2013, and the results of their operations and their cash flows for the 52-week periods
ended August 31, 2014 and September 1, 2013, and the 53-week period ended September 2, 2012, 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
August 31, 2014, 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 15, 2014 expressed an unqualified opinion on the effectiveness of the Company’s internal
control over financial reporting.
Seattle, Washington
October 15, 2014
39