Dollar Tree 2015 Annual Report Download - page 93

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77
Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders
Dollar Tree, Inc.:
We have audited Dollar Tree Inc.’s (the Company) internal control over financial reporting as of January 30, 2016, based on criteria
established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO). 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, included in the
accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on
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, assessing the risk that a material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
A company’s internal control over financial reporting is a process designed 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 its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to the risk that 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, the Company maintained, in all material respects, effective internal control over financial reporting as of January 30,
2016, based on criteria established in Internal Control - Integrated Framework (2013) issued by COSO.
The Company acquired Family Dollar Stores, Inc. (“Family Dollar”) during 2015, and management excluded from its assessment
of the effectiveness of the Company’s internal control over financial reporting as of January 30, 2016, Family Dollar’s internal
control over financial reporting associated with total assets of $12,429.2 million and total revenues of $6,162.0 million included
in the consolidated financial statements of the Company as of and for the year ended January 30, 2016. Our audit of internal
control over financial reporting of the Company also excluded an evaluation of the internal control over financial reporting of
Family Dollar.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
the consolidated balance sheets of the Company as of January 30, 2016, and January 31, 2015, and the related consolidated
income statements, and statements of comprehensive income, shareholders’ equity, and cash flows for each of the years in the
three-year period ended January 30, 2016, and our report dated March 28, 2016 expressed an unqualified opinion on those
consolidated financial statements.
/s/ KPMG LLP
Norfolk, Virginia
March 28, 2016