Starbucks 2007 Annual Report Download - page 74

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AUDITORS’ REPORT ON CONSOLIDATED FINANCIAL STATEMENTS
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Shareholders of Starbucks Corporation
Seattle, Washington
We have audited the accompanying consolidated balance sheets of Starbucks Corporation and subsidiaries (the
“Company”) as of September 30, 2007 and October 1, 2006, and the related consolidated statements of earnings,
shareholders’ equity, and cash flows for each of the three fiscal years in the period ended September 30, 2007. 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 the standards of the Public Company Accounting Oversight Board
(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, such consolidated financial statements present fairly, in all material respects, the financial position
of Starbucks Corporation and subsidiaries as of September 30, 2007 and October 1, 2006, and the results of their
operations and their cash flows for each of the three years in the period ended September 30, 2007, in conformity
with accounting principles generally accepted in the United States of America.
As discussed in Note 1 to the consolidated financial statements, on October 1, 2006, the Company changed its
method of accounting for conditional asset retirement obligations upon adoption of Financial Accounting Standards
Board Interpretation No. 47, “Accounting for Conditional Asset Retirement Obligations - an interpretation of FASB
Statement No. 143”. As discussed in Note 13, on October 3, 2005, the Company changed its method of accounting
for stock-based compensation upon adoption of Statement of Financial Accounting Standards No. 123(R), “Share-
Based Payment”.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the Company’s internal control over financial reporting as of September 30, 2007, based on criteria
established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission and our report dated November 29, 2007 expressed an unqualified opinion on the
Company’s internal control over financial reporting.
/s/ DELOITTE & TOUCHE LLP
Seattle, Washington
November 29, 2007
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