O'Reilly Auto Parts 2003 Annual Report Download - page 54

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report of independent auditors
page 52
the board of directors and shareholders
o’reilly automotive, inc. and subsidiaries
We have audited the accompanying consolidated balance sheets of O’Reilly Automotive, Inc. and Subsidiaries as of December 31,
2003, and 2002, and the related consolidated statements of income, shareholders’ equity and cash flows for each of the three years
in the period ended December 31, 2003. 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 auditing standards generally accepted in the 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, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of
O’Reilly Automotive, Inc. and Subsidiaries at December 31, 2003, and 2002, and the consolidated results of their operations and
their cash flows for each of the three years in the period ended December 31, 2003, in conformity with accounting principles generally
accepted in the United States.
Kansas City, Missouri
February 19, 2004