Dillard's 2009 Annual Report Download - page 48

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Stockholders and Board of Directors of Dillard’s, Inc.
Little Rock, Arkansas
We have audited the accompanying consolidated balance sheet of Dillard’s, Inc. and subsidiaries
(the ‘‘Company’’) as of January 31, 2009, and the related consolidated statements of operations,
stockholders’ equity and comprehensive income (loss), and cash flows for each of the two years in the
period ended January 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.
In our opinion, such consolidated financial statements present fairly, in all material respects, the
financial position of Dillard’s, Inc. and subsidiaries as of January 31, 2009, and the results of their
operations and their cash flows for each of the two years in the period ended January 31, 2009, in
conformity with accounting principles generally accepted in the United States of America.
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
New York, New York
April 1, 2009
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