Tyson Foods 2005 Annual Report Download - page 62

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
ON INTERNAL CONTROL OVER FINANCIAL REPORTING
TYSON FOODS, INC. 2005 ANNUAL REPORT
Tyson Foods, Inc. >> 60
BOARD OF DIRECTORS AND SHAREHOLDERS
We have audited management’s assessment, included in the accom-
panying Report of Management under the caption “Report on Internal
Control over Financial Reporting”, that Tyson Foods, Inc. maintained
effective internal control over financial reporting as of October 1,
2005, based on criteria established in Internal Control—Integrated
Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission (the COSO criteria). Tyson Foods, Inc.’s
management is responsible for maintaining effective internal control
over financial reporting and for its assessment of the effectiveness
of internal control over financial reporting. Our responsibility is to
express an opinion on management’s assessment and an opinion on
the effectiveness of the Company’s internal control over financial
reporting 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 reason-
able assurance about whether effective internal control over financial
reporting was maintained in all material respects. Our audit included
obtaining an understanding of internal control over financial report-
ing, evaluating management’s assessment, testing and evaluating the
design and operating effectiveness of internal control, and perform-
ing such other procedures as we considered necessary in the
circumstances. We believe that our audit provides a reasonable
basis for our opinion.
A company’s internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted
accounting principles. A company’s internal control over financial
reporting includes those policies and procedures that (1) pertain to
the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of
the company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements
in accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisi-
tion, use, or disposition of the company’s assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projec-
tions of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with
the policies or procedures may deteriorate.
In our opinion, management’s assessment that Tyson Foods, Inc.
maintained effective internal control over financial reporting as
of October 1, 2005, is fairly stated, in all material respects, based
on the COSO criteria. Also, in our opinion, Tyson Foods, Inc.
maintained, in all material respects, effective internal control
over financial reporting as of October 1, 2005, based on the
COSO criteria.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United States),
the consolidated balance sheets of Tyson Foods, Inc. as of
October 1, 2005 and October 2, 2004, and the related consolidated
statements of income, shareholders’ equity, and cash flows for
each of the three years in the period ended October 1, 2005 of
Tyson Foods, Inc. and our report dated December 7, 2005
expressed an unqualified opinion thereon.
Rogers, Arkansas
December 7, 2005