Big Lots 2008 Annual Report Download - page 108

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40
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Big Lots, Inc.
Columbus, Ohio
We have audited the accompanying consolidated balance sheets of Big Lots, Inc. and subsidiaries (the
“Company”) as of January 31, 2009 and February 2, 2008, and the related consolidated statements of income,
shareholders’ equity, and cash flows for each of the three years in the period ended January 31, 2009. Our
audits also included the financial statement schedule listed in the Index at Item 15. These financial statements
and financial statement schedule are the responsibility of the Company’s management. Our responsibility is to
express an opinion on the 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, such consolidated financial statements present fairly, in all material respects, the financial
position of Big Lots, Inc. and subsidiaries at January 31, 2009 and February 2, 2008, and the results of their
operations and their cash flows for each of the three years in the period ended January 31, 2009, in conformity
with accounting principles generally accepted in the United States of America. Also, in our opinion, such
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.
As discussed in Note 1 to the consolidated financial statements, the Company adopted the provisions of
Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes –
an Interpretation of Financial Accounting Standards Board Statement No. 109, effective February 4, 2007.
As discussed in Note 1 to the consolidated financial statements the Company adopted the provisions of SFAS
No. 123(R) (Revised 2004), Share-Based Payment, effective January 29, 2006. As discussed in Note 1 to
the consolidated financial statements, the Company adopted the provisions of SFAS No. 158, Employers’
Accounting for Defined Benefit Pension and Other Postretirement Plans, an amendment to SFAS Nos. 87, 88,
106, and 132(R), effective February 3, 2007.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the Company’s internal control over financial reporting as of January 31, 2009, based on
the criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated March 30, 2009 expressed an unqualified
opinion on the Company’s internal control over financial reporting.
/s/ DELOITTE & TOUCHE LLP
Dayton, Ohio
March 30, 2009