Lowe's 2012 Annual Report Download - page 42

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28
Item 8 - Financial Statements and Supplementary Data
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
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 February 1, 2013. 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 management’s assessment, we have concluded that, as of February 1, 2013, 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 30.