Pottery Barn 2011 Annual Report Download - page 154

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• 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 2011?
Yes. We reviewed and discussed the fees billed by Deloitte for services in fiscal 2011, 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 2011?
Yes. We reviewed and discussed the company’s audited financial statements for fiscal 2011 with management
and Deloitte, and based on this review, 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 2011 for filing with the SEC.
Who prepared this report?
Members of the Audit and Finance Committee, Adrian T. Dillon, Ted W. Hall and Michael R. Lynch, prepared
this report.
The Audit and Finance Committee hereby reports as follows:*
(1) The Audit and Finance Committee has reviewed and discussed the company’s audited financial
statements with management and Deloitte;
(2) The Audit and Finance Committee has discussed with Deloitte the matters required by AICPA,
Professional Standards, Vo. 1. AU section 380, as adopted by the Public Company Accounting Oversight Board
(PCAOB) in Rule 3200T;
(3) The Audit and Finance Committee has received the written disclosures and the letter from Deloitte
required by the applicable requirements of the PCAOB regarding Deloitte’s communications with the Audit and
Finance Committee concerning independence and has discussed with Deloitte its independence; and
Based on the review and discussions referred to in items (1) through (3) above, the Audit and Finance
Committee recommended to the Board that the audited financial statements be included in the company’s Annual
Report on Form 10-K for fiscal 2011 for filing with the SEC.
AUDIT AND FINANCE COMMITTEE OF THE
BOARD OF DIRECTORS
Adrian T. Dillon
Ted W. Hall
Michael R. Lynch
AUDIT AND RELATED FEES
During fiscal 2011 and 2010, Deloitte did not perform any prohibited non-audit services for us.
Audit Fees
Deloitte billed approximately $1,335,000 for fiscal 2011 and $1,152,000 for fiscal 2010 for professional services
to audit our consolidated financial statements included in our Annual Report on Form 10-K and to review our
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