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59
ABBOTT 2014 ANNUAL REPORT
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Shareholders of Abbott Laboratories:
We have audited the accompanying consolidated balance sheet
of Abbott Laboratories and subsidiaries (the “Company”) as of
December 31, 2013, and the related consolidated statements
of earnings, comprehensive income, shareholders’ investment,
and cash flows for each of the two years in the period ended
December31, 2013. These financial statements are the responsibil-
ity of the Company’s management. Our responsibility is to express
an opinion on these financial statements 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, such consolidated financial statements present
fairly, in all material respects, the financial position of the
Company as of December31, 2013, and the results of its operations
and its cash flows for each of the two years in the period ended
December31, 2013, in conformity with accounting principles
generally accepted in the United States of America.
As discussed in Note3 to the consolidated financial statements,
the accompanying 2013 and 2012 financial statements have been
retrospectively adjusted to reflect the developed markets branded
generics pharmaceuticals and the animal health businesses as
discontinued operations. In addition, as discussed in Note2 to the
consolidated financial statements, on January1, 2013, the Company
distributed all of the outstanding shares of AbbVie Inc., which
encompasses the Company’s research-based pharmaceuticals
business, to the Company’s shareholders.
Deloitte & Touche LLP
Chicago, Illinois
February 21, 2014
(February 27, 2015 as to Note 3)