Sunbeam 2013 Annual Report Download - page 36

32 Jarden Corporation Annual Report 2013
To the Board of Directors and Stockholders of Jarden Corporation:
In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of operations, comprehensive
income, stockholders’ equity and cash ows present fairly, in all material respects, the nancial position of Jarden Corporation and its
subsidiaries at December31, 2013 and 2012, and the results of their operations and their cash ows for each of the three years in the
period ended December31, 2013 in conformity with accounting principles generally accepted in the United States of America. Also
in our opinion, the Company maintained, in all material respects, effective internal control over nancial reporting as of December31,
2013, based on criteria established in Internal Control—Integrated Framework (1992 ) issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). The Company’s management is responsible for these nancial statements, for
maintaining effective internal control over nancial reporting and for its assessment of the effectiveness of internal control over
nancial reporting, included in Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express
opinions on these nancial statements, and on the Company’s internal control over nancial reporting based on our integrated 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 audits to obtain reasonable assurance about whether the nancial statements are
free of material misstatement and whether effective internal control over nancial reporting was maintained in all material respects.
Our audits of the nancial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the
nancial statements, assessing the accounting principles used and signicant estimates made by management, and evaluating the
overall nancial statement presentation. Our audit of internal control over nancial reporting included obtaining an understanding of
internal control over nancial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we
considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.
A company’s internal control over nancial reporting is a process designed to provide reasonable assurance regarding the reliability
of nancial reporting and the preparation of nancial statements for external purposes in accordance with generally accepted
accounting principles. A company’s internal control over nancial reporting includes those policies and procedures that (i)pertain to
the maintenance of records that, in reasonable detail, accurately and fairly reect the transactions and dispositions of the assets of the
company; (ii)provide reasonable assurance that transactions are recorded as necessary to permit preparation of nancial 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 (iii)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 nancial statements.
Because of its inherent limitations, internal control over nancial 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.
As described in Management’s Report on Internal Control Over Financial Reporting, management has excluded Yankee Candle
Investments LLC (“Yankee Candle”) from its assessment of internal control over nancial reporting as of December31, 2013 because
it was acquired by the Company in a purchase business combination during 2013. We have also excluded Yankee Candle from our
audit of internal control over nancial reporting. Yankee Candle is a wholly-owned subsidiary whose total assets and total net sales
excluded from management’s assessment and our audit of internal control over nancial reporting represent approximately 3% and 5%,
respectively, of the related consolidated nancial statement amounts as of and for the year ended December 31, 2013.
New York, New York
March 3, 2014
Report of Independent Registered Public Accounting Firm
Jarden Corporation Annual Report 2013