Graco 2005 Annual Report Download - page 36

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
Newell Rubbermaid Inc.
We have audited the accompanying consolidated balance sheets of Newell Rubbermaid Inc. as of
December 31, 2005 and 2004, and the related consolidated statements of operations, stockholders' equity,
and cash Öows for each of the three years in the period ended December 31, 2005. These Ñnancial
statements are the responsibility of the Company's management. Our responsibility is to express an opinion
on these Ñnancial 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 Ñnancial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the Ñnancial
statements. An audit also includes assessing the accounting principles used and signiÑcant estimates made
by management, as well as evaluating the overall Ñnancial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the Ñnancial statements referred to above present fairly, in all material respects, the
consolidated Ñnancial position of Newell Rubbermaid Inc. at December 31, 2005 and 2004, and the
consolidated results of its operations and its cash Öows for each of the three years in the period ended
December 31, 2005, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight
Board (United States), the eÅectiveness of Newell Rubbermaid Inc.'s internal control over Ñnancial
reporting as of December 31, 2005, based on criteria established in Internal ControlÌIntegrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our
report dated February 10, 2006 expressed an unqualiÑed opinion thereon.
Chicago, Illinois
February 10, 2006
35