Best Buy 2013 Annual Report Download - page 58

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58
Item 8. Financial Statements and Supplementary Data.
Management's Report on the Consolidated Financial Statements
Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial
statements and the related financial information. The consolidated financial statements have been prepared in conformity with
GAAP and necessarily include certain amounts that are based on estimates and informed judgments. Our management also
prepared the related financial information included in this Transition Report on Form 10-K and is responsible for its accuracy
and consistency with the consolidated financial statements.
The accompanying consolidated financial statements have been audited by Deloitte & Touche LLP, an independent registered
public accounting firm, which conducted its audits in accordance with the standards of the Public Company Accounting
Oversight Board (U.S.). The independent registered public accounting firm's responsibility is to express an opinion as to the
fairness with which such financial statements present our financial position, results of operations and cash flows in accordance
with GAAP.
Management's Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined
in Rule 13a-15(f) under the Exchange Act). Our internal control over financial reporting is designed under the supervision of
our principal executive officer and principal financial officer, and effected by our Board, management and other personnel, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with GAAP, and includes those policies and procedures that:
(1) Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect our transactions and the
dispositions of our assets;
(2) Provide reasonable assurance that our transactions are recorded as necessary to permit preparation of financial
statements in accordance with GAAP, and that our receipts and expenditures are being made only in accordance with
authorizations of our management and Board; and
(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition
of our assets that could have a material effect on our financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore,
even those systems determined to be effective can provide only reasonable assurance with respect to financial statement
preparation and presentation.
Under the supervision and with the participation of our management, including our principal executive officer and principal
financial officer, we assessed the effectiveness of our internal control over financial reporting as of February 2, 2013, using the
criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control —
Integrated Framework. Based on our assessment, we have concluded that our internal control over financial reporting was
effective as of February 2, 2013. During our assessment, we did not identify any material weaknesses in our internal control
over financial reporting. Deloitte & Touche LLP, the independent registered public accounting firm that audited our
consolidated financial statements for the year ended February 2, 2013, included in Item 8, Financial Statements and
Supplementary Data, of this Transition Report on Form 10-K, has issued an unqualified attestation report on our internal
control over financial reporting as of February 2, 2013.
Hubert Joly
President and Chief Executive Officer
(duly authorized and principal executive officer)
Sharon L. McCollam
Executive Vice President, Chief Administrative and Chief
Financial Officer
(duly authorized and principal financial officer)
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