Albertsons 2005 Annual Report Download - page 50

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
SUPERVALU INC.:
We have audited the accompanying consolidated balance sheets of SUPERVALU INC. and subsidiaries (the
Company) as of February 26, 2005 and February 28, 2004, and the related consolidated statements of earnings,
cash flows and stockholders’ equity for each of the fiscal years in the three-year period ended February 26, 2005.
In connection with our audits of the consolidated financial statements, we have also audited the financial
statement schedule as listed in the accompanying index. These consolidated financial statements and financial
statement schedule are the responsibility of the Company’s management. Our responsibility is to express an
opinion on these consolidated financial statements and financial statement schedule 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, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of SUPERVALU INC. and subsidiaries as of February 26, 2005 and February 28, 2004,
and the results of their operations and their cash flows for each of the fiscal years in the three-year period ended
February 26, 2005, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the
related financial statement schedule, when considered in relation to the basic consolidated financial statements
taken as a whole, presents fairly, in all material respects, the information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of SUPERVALU INC.’s internal control over financial reporting as of February
26, 2005, based on criteria established in Internal Control-Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO), and our report dated May 6, 2005 expressed an
unqualified opinion on management’s assessment of, and an unqualified opinion on the effective operation of,
internal control over financial reporting.
/s/ KPMG LLP
Minneapolis, Minnesota
May 6, 2005
F-4