Black & Decker 2010 Annual Report Download - page 72

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders of Stanley Black & Decker, Inc.
We have audited the accompanying consolidated balance sheets of Stanley Black & Decker, Inc. and
subsidiaries (the “Company”) as of January 1, 2011 and January 2, 2010, and the related consolidated
statements of operations, changes in shareowners’ equity, and cash flows for each of the three fiscal years in
the period ended January 1, 2011. Our audits also included the financial statement schedule listed in the Index
at Item 15. These financial statements and schedule are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these financial statements and 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 financial statements referred to above present fairly, in all material respects, the
consolidated financial position of the Company at January 1, 2011 and January 2, 2010, and the consolidated
results of their operations and their cash flows for each of the three fiscal years in the period ended January 1,
2011, 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 financial statements taken as a whole,
presents fairly in all material respects the information set forth therein.
As discussed in Note A to the consolidated financial statements, the Company adopted Financial Accounting
Standards Board Statement No. 141(R), Business Combinations (codified in ASC 805, Business Combinations),
effective for the Company on January 4, 2009.
We also have 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 1, 2011, based on
criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organi-
zations of the Treadway Commission and our report dated February 18, 2011 expressed an unqualified opinion
thereon.
/s/ Ernst & Young, LLP
Hartford, Connecticut
February 18, 2011
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