IHOP 2008 Annual Report Download - page 143

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders of DineEquity, Inc. and Subsidiaries:
We have audited the accompanying consolidated balance sheets of DineEquity, Inc. and
Subsidiaries (the ‘‘Company’’) as of December 31, 2008 and 2007, and the related consolidated
statements of operations, stockholders’ equity, and cash flows for each of the three years in the period
ended December 31, 2008. 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 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 financial statements referred to above present fairly, in all material respects,
the consolidated financial position of DineEquity, Inc. and Subsidiaries at December 31, 2008 and 2007,
and the consolidated results of their operations and their cash flows for each of the three years in the
period ended December 31, 2008, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 2 to the consolidated financial statements, the Company changed its method
of accounting for uncertainties in income tax positions in accordance with Statement of Financial
Accounting Standards Interpretation 48 on January 1, 2007.
We also have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), DineEquity, Inc. and Subsidiaries’ internal control over financial
reporting as of December 31, 2008, based on criteria established in Internal Control— Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our
report dated February 25, 2009 expressed an unqualified opinion thereon.
/s/ ERNST & YOUNG LLP
Los Angeles, California
February 25, 2009
129