Tyson Foods 1999 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 of the 1999 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

Report of independent auditors
TYSON FOODS, INC. 1999 ANNUAL REPORT
57
BOARD OF DIRECTORS AND SHAREHOLDERS
We have audited the accompanying consolidated balance sheets of Tyson Foods, Inc., as of October 2, 1999, and
October 3, 1998, and the related consolidated statements of income, shareholders’ equity, and cash flows for each
of the three years in the period ended October 2, 1999. These financial statements are the responsibility of the Com-
pany’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. 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 Tyson Foods, Inc., at October 2, 1999, and October 3, 1998, and the consolidated results of its
operations and its cash flows for each of the three years in the period ended October 2, 1999, in conformity with
generally accepted accounting principles.
Ernst & Young LLP
Tulsa, Oklahoma
November 18, 1999