Papa Johns 2004 Annual Report Download - page 73

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Attestation Report of the Registered Public Accounting Firm
Report of Independent Registered Public Accounting Firm
Board of Directors and Stockholders
Papa John’s International, Inc.
We have audited management’s assessment, included in the accompanying “Management’s Report on Internal
Control over Financial Reporting,” appearing under Item 9a of Part II of this Form 10-K, that Papa John’s
International, Inc. maintained effective internal control over financial reporting as of December 26, 2004, based on
criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (the COSO criteria). Papa John’s International, Inc.’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. Our responsibility is to express an opinion on
management’s assessment and an opinion on the effectiveness of 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, evaluating management’s assessment, testing
and evaluating the design and operating effectiveness of internal control, and 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, management’s assessment that Papa John’s International, Inc. maintained effective internal control
over financial reporting as of December 26, 2004, is fairly stated, in all material respects, based on the COSO
criteria. Also, in our opinion, Papa John’s International, Inc. maintained, in all material respects, effective internal
control over financial reporting as of December 26, 2004, based on the COSO criteria.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the accompanying consolidated balance sheets of Papa John’s International, Inc. and subsidiaries as of
December 26, 2004 and December 28, 2003, and the related consolidated statement of income, stockholders’ equity,
and cash flows for each of the three years in the period ended December 26, 2004 and our report dated March 1,
2005, expressed an unqualified opinion thereon.
Ernst & Young LLP
Louisville, Kentucky
March 1, 2005