Pottery Barn 2008 Annual Report Download - page 144

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How did we perform our responsibilities in fiscal 2008?
The Audit and Finance Committee held a total of ten meetings during fiscal 2008, and we took the following
actions, among other things:
• Reviewed and discussed the company’s audited financial statements for fiscal 2008 with management and
Deloitte;
• Reviewed and discussed the company’s periodic filings on Forms 10-K and 10-Q with management;
• Reviewed and discussed all company earnings, sales and guidance press releases with management;
• Reviewed and discussed the company’s internal control over financial reporting with management and
Deloitte;
• Met with Deloitte, with and without management present, to discuss the overall quality of the internal and
external audit process and the financial reporting process; and
• Discussed with Deloitte its independence from the company and management based on the following:
(i) our confirmation that no member of Deloitte’s audit team is or has been employed by the company in a
financial reporting oversight role; and (ii) our review of audit and non-audit fees and the written
disclosures and letter from Deloitte as required by PCAOB requirements.
What other matters did we discuss with Deloitte?
During fiscal 2008, we discussed the following other matters, among other things, with Deloitte:
• Deloitte’s responsibilities in connection with the audit of the company’s financial statements and matters
relating to Deloitte’s independence;
• Deloitte’s annual letter describing internal quality control procedures;
• The company’s internal control over financial reporting;
• Any significant issues arising during the audit and any other matters relating to the conduct of the audit of
the company’s financial statements; and
• Matters required to be discussed pursuant to relevant PCAOB and SEC requirements, including the
quality of the company’s accounting principles, the soundness of significant judgments and the clarity of
disclosures in the company’s financial statements.
Did we review the fees billed by Deloitte for fiscal 2008?
Yes. We reviewed and discussed the fees billed by Deloitte for services in fiscal 2008, which are described in
detail below. We determined that the provision of non-audit services was compatible with Deloitte’s
independence.
Did we review the company’s audited financial statements for fiscal 2008?
Yes. We reviewed and discussed the company’s audited financial statements for fiscal 2008 with management
and Deloitte, and based on our review and these discussions, we recommended to the Board that the company’s
audited financial statements be included in the company’s Annual Report on Form 10-K for fiscal 2008 for filing
with the SEC.
Who prepared this report?
Members of the Audit and Finance Committee, Adrian T. Dillon, Ted W. Hall, Michael R. Lynch and Richard
T. Robertson, prepared this report.
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