Sunbeam 2006 Annual Report Download - page 43

The Board of Directors and Stockholders of Jarden Corporation
We have audited management’s assessment, included in the accompanying Management’s Report on Internal Control
Over Financial Reporting that Jarden Corporation and subsidiaries (the “Company”) maintained effective internal control
over financial reporting as of December 31,2006,based on criteria established in Internal Control—Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). The Company’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 assess-
ment 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 under-
standing 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 cir-
cumstances. 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 general-
ly accepted accounting principles. A company’s internal control over financial reporting includes those policies and proce-
dures 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 inade-
quate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
As indicated in the accompanying Management’s Report on Internal Control Over Financial Reporting, management’s
assessment of and conclusion on the effectiveness of internal controls over financial reporting did not include the internal
controls of the firelog and firestarter business acquired from Conros Corporation, Conros International Ltd and Java Logg
Global Corporation (“Pine Mountain”) which was acquired in 2006 and is included in the 2006 consolidated financial state-
ments of the Company and constituted approximately 4% of consolidated total assets as of December 31,2006 and approxi-
mately 2%of net sales for the year then ended. Our audit of internal control over financial reporting of the Company also
did not include an evaluation of the internal control over financial reporting of Pine Mountain.
In our opinion, management’s assessment that Jarden Corporation and subsidiaries maintained effective internal control
over financial reporting as of December 31,2006,is fairly stated, in all material respects, based on the COSO criteria. Also,
in our opinion, Jarden Corporation and subsidiaries maintained, in all material respects, effective internal control over
financial reporting as of December 31,2006,based on the COSO criteria.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the consolidated balance sheets of Jarden Corporation and subsidiaries as of December 31,2006 and 2005,and the
related consolidated statements of income, stockholders’ equity, and cash flows for each of the years in the period ended
December 31,2006 and our report dated February 19,2007 expressed an unqualified opinion thereon.
New York, New York
February 19,2007
41
Report of Independent Registered Public Accounting Firm