Kroger 2015 Annual Report Download - page 65

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63
Audit Committee Report
Management of the Company is responsible for the preparation and presentation of the Company’s
financial statements, the Company’s accounting and financial reporting principles and internal controls,
and procedures that are designed to provide reasonable assurance regarding compliance with
accounting standards and applicable laws and regulations. The independent public accountants are
responsible for auditing the Company’s financial statements and expressing opinions as to the financial
statements’ conformity with generally accepted accounting principles and the effectiveness of the
Company’s internal control over financial reporting.
In performing its functions, the Audit Committee:
• Met separately with the Company’s internal auditor and PricewaterhouseCoopers LLP with and
without management present to discuss the results of the audits, their evaluation and management’s
assessment of the effectiveness of Kroger’s internal controls over financial reporting and the overall
quality of the Company’s financial reporting;
• Met separately with the Company’s Chief Financial Officer or the Company’s General Counsel
when needed;
• Met regularly in executive sessions;
• Reviewed and discussed with management the audited financial statements included in our
Annual Report;
• Discussed with PricewaterhouseCoopers LLP the matters required to be discussed under the
applicable requirements of the Public Company Accounting Oversight Board;
• Received the written disclosures and the letter from PricewaterhouseCoopers LLP required by the
applicable requirements of the Public Accounting Oversight Board regarding the independent public
accountant’s communication with the Audit Committee concerning independence and discussed
with them matters related to their independence; and
Based upon the review and discussions described in this report, the Audit Committee recommended
to the Board of Directors that the audited consolidated financial statements be included in the Company’s
Annual Report on Form 10-K for the year ended January 30, 2016, as filed with the SEC.
This report is submitted by the Audit Committee.
Ronald L. Sargent, Chair
Anne Gates
Susan J. Kropf
Susan M. Phillips
Bobby S. Shackouls