Tyson Foods 2006 Annual Report Download - page 60

THE BOARD OF DIRECTORS AND SHAREHOLDERS
OF TYSON FOODS, INC.
We have audited management’s assessment, included in the accom-
panying Report of Management under the caption “Management’s
Report on Internal Control over Financial Reporting”, that Tyson
Foods, Inc. maintained effective internal control over financial
reporting as of September 30, 2006, 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 main-
taining 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 we plan and perform the audit to obtain reasonable
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
reporting, evaluating management’s assessment, testing and evalu-
ating the design and operating effectiveness of internal control, and
performing such other procedures as we considered necessary in
the circumstances. We believe 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 transactions are
recorded as necessary to permit preparation of financial statements
in accordance with generally accepted accounting principles, and
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 acquisition, 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 controls may become inadequate because of changes in
conditions, or the degree of compliance with the policies or proce-
dures may deteriorate.
In our opinion, management’s assessment that Tyson Foods, Inc.
maintained effective internal control over financial reporting as of
September 30, 2006, 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 September 30, 2006, 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 September 30,
2006 and October 1, 2005, and the related consolidated statements
of operations, shareholders’ equity, and cash flows for each of the
three years in the period ended September 30, 2006 and our report
dated December 11, 2006 expressed an unqualified opinion thereon.
Rogers, Arkansas
December 11, 2006
58 Ty s on Foods, Inc. 2006 Annual Report
Report of Independent Registered Public Accounting Firm