Walgreens 2015 Annual Report Download - page 124

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Management’s Report on Internal Control
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting, as such term is defined in Exchange Act Rule 13a-15(f). Under the supervision and with the
participation of our management, including our principal executive officer and principal financial officer, we
conducted an evaluation of the effectiveness of our internal control over financial reporting based on the
framework in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). Based on our evaluation, management concluded that our
internal control over financial reporting was effective as of August 31, 2015. Deloitte & Touche LLP, the
Company’s independent registered public accounting firm, has audited our internal control over financial
reporting, as stated in its report which is included herein.
As described in Note 8, Acquisitions to the consolidated financial statements, we acquired a controlling interest
in Alliance Boots GmbH and its subsidiaries (Alliance Boots) upon the closing of the Second Step Transaction
on December 31, 2014. The scope of management’s evaluation of the effectiveness of internal control over
financial reporting did not include the internal controls of Alliance Boots. This exclusion is in accordance with
the SEC Staff’s general guidance that an assessment of a recent business combination may be omitted from
management’s report on internal control over financial reporting in the year of consolidation. Alliance Boots
represented approximately 49.2% of the Company’s total assets as of August 31, 2015 and 21.7% of the
Company’s net sales for the year ended August 31, 2015.
/s/ Stefano Pessina /s/ George R. Fairweather
Stefano Pessina George R. Fairweather
Executive Vice Chairman and Chief
Executive Officer
Executive Vice President and Global Chief
Financial Officer
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