Dick's Sporting Goods 2004 Annual Report Download - page 37

DICK’S SPORTING GOODS, INC. 2004 ANNUAL REPORT 35
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Stockholders of Dick’s Sporting Goods, Inc.
We have audited management’s assessment, included in the accompanying Management’s Report on “Internal Control Over Financial
Reporting”, that Dick’s Sporting Goods, Inc. and subsidiaries (the “Company”) maintained effective internal control over financial
reporting as of January 29, 2005, based on criteria established in “Internal Control—Integrated Framework” issued by the Committee
of Sponsoring Organizations of the Treadway Commission. As described in Management’s Report on “Internal Control Over Financial
Reporting,” management excluded from their assessment the internal control over financial reporting at Galyan’s Trading Company, which
was acquired on July 29, 2004 representing approximately 24% of total assets at January 29, 2005. Accordingly, our audit did not include
the internal control over financial reporting at Galyan’s Trading Company. The Company’s management is responsible for maintaining
effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting.
Our responsibility is to express an opinion on management’s assessment and an opinion on the effectiveness of the Company’s internal
control over financial reporting based on our audit.
We conducted our audit 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 effective internal control over
financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over
financial reporting, evaluating management’s assessment, testing and evaluating the design and operating effectiveness of internal
control, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a
reasonable basis for our opinions.
A company’s internal control over financial reporting is a process designed by, or under the supervision of, the company’s principal
executive and principal financial officers, or persons performing similar functions, and effected by the company’s board of directors,
management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over
financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use,
or disposition of the company’s assets that could have a material effect on the financial statements.
Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may not be prevented or detected on a timely basis. Also,
projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk
that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
In our opinion, management’s assessment that the Company maintained effective internal control over financial reporting as of
January 29, 2005, is fairly stated, in all material respects, based on the criteria established in “Internal Control—Integrated Framework”
issued by the Committee of Sponsoring Organizations of the Treadway Commission. Also in our opinion, the Company maintained, in
all material respects, effective internal control over financial reporting as of January 29, 2005, based on the criteria established in
“Internal Control—Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
consolidated financial statements and financial statement schedule as of and for the fiscal year ended January 29, 2005 of the Company
and our reports dated March 28, 2005 expressed an unqualified opinion on those financial statements and financial statement schedule.
Pittsburgh, Pennsylvania
March 28, 2005