Pep Boys 2005 Annual Report Download - page 32

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27
ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of
The Pep Boys—Manny, Moe & Jack
We have audited the accompanying consolidated balance sheets of The Pep Boys—Manny, Moe & Jack and subsidiaries (the
“Company”) as of January 28, 2006 and January 29, 2005, and the related consolidated statements of operations, stockholders’
equity, and cash flows for each of the three years in the period ended January 28, 2006. Our audits also included the financial
statement schedule listed in the Index at Item 15. These financial statements and financial statement schedule are the
responsibility of the Company’s management. Our responsibility is to express an opinion on the financial statements and
financial statement 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, such consolidated financial statements present fairly, in all material respects, the financial position of The Pep
Boys—Manny, Moe & Jack and subsidiaries as of January 28, 2006 and January 29, 2005, and the results of their operations
and their cash flows for each of the three years in the period ended January 28, 2006, in conformity with accounting principles
generally accepted in the United States of America. Also, in our opinion, such financial statement schedule, when considered
in relation to the basic consolidated financial statements taken as a whole, presents fairly in all material respects the information
set forth therein.
As discussed in Note 13 to the consolidated financial statements, the Company adopted Financial Accounting Standards
Board Interpretation No. 47, Accounting for Conditional Asset Retirement Obligations, as of January 28, 2006.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
the effectiveness of the Company’s internal control over financial reporting as of January 28, 2006, based on the criteria
established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission and our report dated April 11, 2006 expressed an unqualified opinion on management’s assessment of
the effectiveness of the Company’s internal control over financial reporting and an unqualified opinion on the effectiveness
of the Company’s internal control over financial reporting.
/s/ Deloitte & Touche LLP
Philadelphia, Pennsylvania
April 11, 2006