Energizer 2004 Annual Report Download - page 23

ENR 2004 Annual Report 21
Responsibility for Financial Statements
The preparation and integrity of the financial statements of Energizer
Holdings, Inc. are the responsibility of its management. These statements
have been prepared in conformance with generally accepted accounting
principles in the United States of America, 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 auditors, on
their audits of the accompanying financial statements is shown on this
page. This report states that the audits were made in accordance with
generally accepted auditing standards in the United States of America.
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 auditors to discuss audit and financial reporting
matters. To assure independence, PricewaterhouseCoopers LLP has
direct access to the Audit Committee.
Report of Independent Registered Public Accounting Firm
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 sub-
sidiaries at September 30, 2004 and 2003, and the results of their
operations and their cash flows for each of the three years in the period
ended September 30, 2004 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 disclo-
sures 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.
PricewaterhouseCoopers LLP
St. Louis, Missouri
November 15, 2004