Hormel Foods 2014 Annual Report Download - page 35

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33
In our opinion, the financial statements referred to above
present fairly, in all material respects, the consolidated
financial position of Hormel Foods Corporation at October 26,
2014 and October 27, 2013 and the consolidated results of its
operations and its cash flows for each of the three years in the
period ended October 26, 2014, in conformity with U.S. gener-
ally accepted accounting principles.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United
States), Hormel Foods Corporation’s internal control over
financial reporting as of October 26, 2014, based on cri-
teria established in Internal Control-Integrated Framework
issued by the Committee of Sponsoring Organizations of the
Treadway Commission (1992 framework) and our report dated
December 17, 2014 expressed an unqualified opinion thereon.
Minneapolis, Minnesota
December 17, 2014
The Board of Directors and Shareholders
Hormel Foods Corporation
We have audited the accompanying consolidated statements
of financial position of Hormel Foods Corporation as of
October 26, 2014 and October 27, 2013 and the related con-
solidated statements of operations, comprehensive income,
changes in shareholders’ investment, and cash flows for each
of the three years in the period ended October 26, 2014. 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 finan-
cial 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 evalu-
ating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
Report of Independent Registered Public Accounting Firm