Tyson Foods 2008 Annual Report Download - page 64

62 Tyson Foods, Inc.
Report of Independent Registered Public Accounting Firm
THE BOARD OF DIRECTORS AND SHAREHOLDERS
OF TYSON FOODS, INC.
We have audited Tyson Foods, Inc.’s internal control over fi nancial
reporting as of September 27, 2008, 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 maintain-
ing effective internal control over fi nancial reporting, and for its
assessment of the effectiveness of internal control over fi nancial
reporting included in the accompanying Report of Management
under the caption “Management’s Report on Internal Control over
Financial Reporting”. Our responsibility is to express an opinion
on the Company’s internal control over fi nancial 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 reason-
able assurance about whether effective internal control over fi nancial
reporting was maintained in all material respects. Our audit included
obtaining an understanding of internal control over fi nancial reporting,
assessing the risk a material weakness exists, testing and evaluating
the design and operating effectiveness of internal control based
on the assessed risk, 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 fi nancial reporting is a process
designed to provide reasonable assurance regarding the reliability
of fi nancial reporting and the preparation of fi nancial statements
for external purposes in accordance with generally accepted
accounting principles. A company’s internal control over fi nancial
reporting includes those policies and procedures that (1) pertain
to the maintenance of records that, in reasonable detail, accurately
and fairly refl ect the transactions and dispositions of the assets
of the company; (2) provide reasonable assurance transactions are
recorded as necessary to permit preparation of fi nancial 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
fi nancial statements.
Because of its inherent limitations, internal control over fi nancial
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, Tyson Foods, Inc. maintained, in all material respects,
effective internal control over fi nancial reporting as of September 27,
2008, based on the COSO criteria.
We also have audited, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the consoli-
dated balance sheets of Tyson Foods, Inc. as of September 27, 2008
and September 29, 2007, and the related consolidated statements of
operations, shareholders’ equity, and cash fl ows for each of the three
years in the period ended September 27, 2008, and our report dated
November 17, 2008, expressed an unqualifi ed opinion thereon.
Rogers, Arkansas
November 17, 2008