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LOWE’S 2010 ANNUAL REPORT 27
Management of Lowe’s Companies, Inc. and its subsidiaries is
responsible for establishing and maintaining adequate internal
control over financial reporting (Internal Control) as defined in
Rule฀13a-15(f)฀under฀the฀Securities฀Exchange฀Act฀of฀1934,฀as฀
amended. Our Internal Control was designed to provide reasonable
assurance to our management and the Board of Directors regarding
the reliability of financial reporting and the preparation and fair
presentation of published financial statements.
All internal control systems, no matter how well designed, have
inherent limitations, including the possibility of human error and
the circumvention or overriding of controls. Therefore, even those
systems determined to be effective can provide only reasonable
assurance with respect to the reliability of financial reporting and
financial statement preparation and presentation. Further, because
of changes in conditions, the effectiveness may vary over time.
฀ Our฀management,฀with฀the฀participation฀of฀the฀Chief฀Executive฀
Officer and Chief Financial Officer, evaluated the effectiveness of
our Internal Control as of January 28, 2011. In evaluating our
Internal Control, we used the criteria set forth by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO)
in Internal Control – Integrated Framework. Based on our manage-
ment’s assessment, we have concluded that, as of January 28, 2011,
our Internal Control is effective.
฀ Deloitte฀&฀Touche฀LLP,฀the฀independent฀registered฀public฀
accounting firm that audited the financial statements contained in
this report, was engaged to audit our Internal Control. Their report
appears on page 29.
MANAGEMENT’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING