Sonic 2014 Annual Report Download - page 48

Reports of Independent Registered Public Accounting Firms
The Board of Directors and Stockholders of Sonic Corp.
We have audited the accompanying consolidated balance sheet of Sonic Corp. and subsidiaries as of August 31, 2014, and
the related consolidated statements of income, stockholders’ equity, and cash flows for the year ended August 31, 2014. These
consolidated financial statements and financial statement schedule are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these consolidated financial statements and financial statement schedule based on
our audit.
We conducted our audit 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 audit provides a reasonable
basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial
position of Sonic Corp. and subsidiaries at August 31, 2014, and the results of their operations and their cash flows for the year
ended August 31, 2014, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
Sonic Corp.’s internal control over financial reporting as of August 31, 2014, based on criteria established in Internal Control
– Integrated Framework - 1992 issued by the Committee of Sponsoring Organizations of the Treadway Commission and our
report dated October 24, 2014, expressed an unqualified opinion on the effectiveness of Sonic Corp.’s internal control over
financial reporting.
/s/ KPMG LLP
Oklahoma City, Oklahoma
October 24, 2014
The Board of Directors and Stockholders of Sonic Corp.
We have audited the accompanying consolidated balance sheet of Sonic Corp. as of August 31, 2013, and the related consolidated
statements of income, stockholders’ equity, and cash flows for each of the two years in the period ended August 31, 2013. 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 Sonic Corp. at August 31, 2013, and the consolidated results of its operations and its cash flows for each of the two years
in the period ended August 31, 2013, in conformity with U.S. generally accepted accounting principles.
/s/ ERNST & YOUNG LLP
Oklahoma City, Oklahoma
October 25, 2013
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