Papa Johns 2014 Annual Report Download - page 66

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53
Item 8. Financial Statements and Supplementary Data
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders of Papa John’s International, Inc. and Subsidiaries
We have audited the accompanying consolidated balance sheets of Papa John’s International, Inc. and
Subsidiaries as of December 28, 2014 and December 29, 2013, and the related consolidated statements of
income, comprehensive income, stockholders' equity, and cash flows for each of the three years in the
period ended December 28, 2014. Our audits also included the financial statement schedule listed in the
Index at Item 15(a)(2). These financial statements and schedule are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial statements and schedule 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 Papa John’s International, Inc. and Subsidiaries at December 28, 2014
and December 29, 2013, and the consolidated results of their operations and their cash flows for each of
the three years in the period ended December 28, 2014, in conformity with U.S. generally accepted
accounting principles. Also, in our opinion, the related financial statement schedule, when considered in
relation to the basic financial statements taken as a whole, presents fairly in all material respects the
information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight
Board (United States), Papa John’s International, Inc. and Subsidiaries’ internal control over financial
reporting as of December 28, 2014, 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 February 24, 2015, expressed an unqualified opinion thereon.
/s/ Ernst & Young LLP
Louisville, Kentucky
February 24, 2015