Best Buy 2002 Annual Report Download - page 57

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Independent Auditor’s Report 55
Shareholders and Board of Directors
Best Buy Co., Inc.
We have audited the accompanying consolidated balance sheets of Best Buy Co., Inc. and subsidiaries as of March 2,
2002, and March 3, 2001, and the related consolidated statements of earnings, changes in shareholders’ equity, and
cash flows for each of the three years in the period ended March 2, 2002. 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 Best Buy Co., Inc. and subsidiaries at March 2, 2002, and March 3, 2001, and the consolidated results of
their operations and their cash flows for each of the three years in the period ended March 2, 2002, in conformity with
accounting principles generally accepted in the United States.
Minneapolis, Minnesota
April 2, 2002
Independent Auditor’s Report