Cracker Barrel 2009 Annual Report Download - page 54

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52
TO THE BOARD OF DIRECTORS AND SHAREHOLDERS
OF CRACKER BARREL OLD COUNTRY STORE, INC.
LEBANON, TENNESSEE
We have audited the accompanying consolidated balance
sheets of Cracker Barrel Old Country Store, Inc. and
subsidiaries (the “Company”) as of July 31, 2009 and
August 1, 2008, and the related consolidated statements
of income, changes in shareholders’ equity, and cash
flows for each of the three fiscal years in the period
ended July 31, 2009. These financial statements are the
responsibility 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.
Report of Independent Registered Public Accounting Firm
In our opinion, such consolidated financial statements
present fairly, in all material respects, the financial
position of Cracker Barrel Old Country Store, Inc. and
subsidiaries as of July 31, 2009 and August 1, 2008, and
the results of their operations and their cash flows for
each of the three fiscal years in the period ended July 31,
2009, in conformity with accounting principles
generally accepted in the United States of America.
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 July 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 September 29, 2009 expressed an unqualified
opinion on the Company’s internal control over financial
reporting.
Nashville, Tennessee
September 29, 2009
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