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53
Express Scripts 2014 Annual Report
Item 8 — Consolidated Financial Statements and Supplementary Data
Report of Independent Registered Public Accounting Firm
TotheBoardofDirectorsandStockholdersofExpressScriptsHoldingCompany:
Inouropinion,theconsolidatedfinancialstatementslistedintheindexappearingunderItem15a(1)presentfairly,
inallmaterialrespects,thefinancialpositionofExpressScriptsHoldingCompanyanditssubsidiariesatDecember31,2014
andDecember31,2013,andtheresultsoftheiroperationsandtheircashflowsforeachofthethreeyearsintheperiodended
December31,2014inconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.Inaddition,in
ouropinion,thefinancialstatementschedulelistedintheindexappearingunderItem15a(2)presentsfairly,inallmaterial
respects,theinformationsetforththereinwhenreadinconjunctionwiththerelatedconsolidatedfinancialstatements.Alsoin
ouropinion,theCompanymaintained,inallmaterialrespects,effectiveinternalcontroloverfinancialreportingasof
December31,2014,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these
financialstatementsandfinancialstatementschedule,formaintainingeffectiveinternalcontroloverfinancialreportingandfor
itsassessmentoftheeffectivenessofinternalcontroloverfinancialreporting,includedinManagement’sReportonInternal
ControlOverFinancialReportingappearingunderItem9A.Ourresponsibilityistoexpressopinionsonthesefinancial
statements,onthefinancialstatementscheduleandontheCompany’sinternalcontroloverfinancialreportingbasedonour
integrated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auditstoobtainreasonableassuranceabout
whetherthefinancialstatementsarefreeofmaterialmisstatementandwhethereffectiveinternalcontroloverfinancial
reportingwasmaintainedinallmaterialrespects.Ourauditsofthefinancialstatementsincludedexamining,onatestbasis,
evidencesupportingtheamountsanddisclosuresinthefinancialstatements,assessingtheaccountingprinciplesusedand
significantestimatesmadebymanagement,andevaluatingtheoverallfinancialstatementpresentation.Ourauditofinternal
controloverfinancialreporting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auditsalsoincludedperformingsuchotherproceduresasweconsiderednecessaryinthe
circumstances.Webelievethatourauditsprovideareasonablebasisforouropinions.
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(i)pertaintothemaintenanceofrecordsthat,inreasonabledetail,accuratelyandfairlyreflectthetransactions
anddispositionsoftheassetsofthecompany;(ii)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(iii)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.
/s/PricewaterhouseCoopersLLP
St.Louis,Missouri
February23,2015
49