Hormel Foods 2015 Annual Report Download - page 37

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35
In our opinion, the fi nancial statements referred to above
present fairly, in all material respects, the consolidated
fi nancial position of Hormel Foods Corporation at October 25,
2015 and October 26, 2014 and the consolidated results of its
operations and its cash fl ows for each of the three years in the
period ended October 25, 2015, in conformity with U.S. gener-
ally accepted accounting principles.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United
States), Hormel Foods Corporation’s internal control over
fi nancial reporting as of October 25, 2015, based on criteria
established in Internal Control-Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway
Commission (2013 framework), and our report dated
December 16, 2015 expressed an unqualifi ed opinion thereon.
Minneapolis, Minnesota
December 16, 2015
The Board of Directors and Shareholders
Hormel Foods Corporation
We have audited the accompanying consolidated statements
of fi nancial position of Hormel Foods Corporation as of
October 25, 2015 and October 26, 2014 and the related con-
solidated statements of operations, comprehensive income,
changes in shareholders’ investment, and cash fl ows for each
of the three years in the period ended October 25, 2015. These
fi nancial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on
these fi nancial 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 fi nan-
cial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the fi nancial statements. An audit
also includes assessing the accounting principles used and
signifi cant estimates made by management, as well as evalu-
ating the overall fi nancial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
Report of Independent Registered Public Accounting Firm