Energizer 2000 Annual Report Download - page 22

ENERGIZER 2000 ANNUAL REPORT
20
RESPONSIBILITY FOR FINANCIAL STATEMENTS
The preparation and integrity of the financial statements of Energizer
Holdings, Inc. are the responsibility of its management. These state-
ments have been prepared in conformance with generally accepted
accounting principles in the United States, and in the opinion of
management, fairly present Energizer’s financial position, results
of operations and cash flows.
Energizer maintains accounting and internal control systems, which
it believes are adequate to provide reasonable assurance that assets
are safeguarded against loss from unauthorized use or disposition
and that the financial records are reliable for preparing financial
statements. The selection and training of qualified personnel, the
establishment and communication of accounting and administrative
policies and procedures, and an extensive program of internal audits
are important elements of these control systems.
The report of PricewaterhouseCoopers LLP, independent account-
ants, on their audits of the accompanying financial statements
is shown below. This report states that the audits were made in
accordance with generally accepted auditing standards in the United
States. These standards include a study and evaluation of internal
control for the purpose of establishing a basis for reliance thereon
relative to the scope of their audits of the financial statements.
The Board of Directors, through its Audit Committee consisting
solely of nonmanagement directors, meets periodically with
management, internal audit and the independent accountants
to discuss audit and financial reporting matters. To assure
independence, PricewaterhouseCoopers LLP has direct access
to the Audit Committee.
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Directors of
Energizer Holdings, Inc.
In our opinion, the accompanying consolidated balance sheet and
the related consolidated statements of earnings and comprehensive
income, of cash flows and of shareholders equity present fairly, in
all material respects, the financial position of Energizer Holdings,
Inc. and its subsidiaries at September 30, 2000 and 1999, and the
results of their operations and their cash flows for each of the three
years in the period ended September 30, 2000, in conformity with
accounting principles generally accepted in the United States. These
financial statements are the responsibility of Energizer’s manage-
ment; 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 auditing standards generally accepted
in the United States which 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 the opinion
expressed above.
PricewaterhouseCoopers LLP
St. Louis, Missouri
October 31, 2000