HR Block 2005 Annual Report Download - page 107

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We also have audited, in accordance with the standards of the Control – Integrated Framework issued by the Committee of
Public Company Accounting Oversight Board (United States), the Sponsoring Organizations of the Treadway Commission
consolidated balance sheets of H&R Block, Inc. and subsidiaries (‘‘COSO’’). Also, in our opinion, because of the effect of the
as of April 30, 2005 and 2004, and the related consolidated material weakness described above on the achievement of the
statements of income and comprehensive income, stockholders’ objectives of the control criteria, the Company has not
equity, and cash flows for each of the years in the two-year period maintained effective internal control over financial reporting as
ended April 30, 2005. The aforementioned material weakness was of April 30, 2005, based on criteria established in Internal
considered in determining the nature, timing, and extent of audit Control – Integrated Framework issued by the Committee of
tests applied in our audit of the fiscal year 2005 consolidated Sponsoring Organizations of the Treadway Commission
financial statements, and this report does not affect our report (‘‘COSO’’).
dated July 29, 2005, which expressed an unqualified opinion on
those consolidated financial statements.
In our opinion, management’s assessment that H&R Block, Inc. Kansas City, Missouri
and subsidiaries did not maintain effective internal control over July 29, 2005
financial reporting as of April 30, 2005, is fairly stated, in all
material respects, based on criteria established in Internal
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ⬎⬎⬎
To the Board of Directors and Shareholders of H&R Block, Inc.: evidence supporting the amounts and disclosures in the financial
In our opinion, the accompanying consolidated statements of statements, assessing the accounting principles used and
income and comprehensive income, of cash flows and of significant estimates made by management, and evaluating the
stockholders’ equity present fairly, in all material respects, the overall financial statement presentation. We believe that our audit
results of operations and cash flows of H&R Block, Inc. and its provides a reasonable basis for our opinion.
subsidiaries (the ‘‘Company’’) for the year ended April 30, 2003 in As described in Note 2, the financial statements have been
conformity with accounting principles generally accepted in the restated for the year ended April 30, 2003.
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 audit. We conducted our audit of these statements in
accordance with standards of the Public Company Accounting June 10, 2003, except for Note 2
Oversight Board (United States). Those standards require that we as to which the date is July 29, 2005,
plan and perform the audit to obtain reasonable assurance about and Note 19 and Note 22 as to
whether the financial statements are free of material which the date is August 4, 2005
misstatement. An audit includes examining, on a test basis, Kansas City, Missouri
H&R BLOCK 2005 Form 10K
45