Walmart 2012 Annual Report Download - page 56
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Please find page 56 of the 2012 Walmart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.54 Walmart 2012 Annual Report
The Board of Directors and Shareholders
of Wal-Mart Stores, Inc.
We have audited the accompanying consolidated balance sheets of
Wal-Mart Stores, Inc. as of January 31, 2012 and 2011, and the related
consolidated statements of income, comprehensive income, shareholders’
equity, and cash fl ows for each of the three years in the period ended
January 31, 2012. These fi nancial statements are the responsibility of the
Company’s management. Our responsibility is to express an opinion on
these fi nancial 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 fi nancial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the fi nancial statements.
An audit also includes assessing the accounting principles used and
signifi cant estimates made by management, as well as evaluating the
overall fi nancial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the fi nancial statements referred to above present fairly,
in all material respects, the consolidated fi nancial position of Wal-Mart
Stores, Inc. at January 31, 2012 and 2011, and the consolidated results of
its operations and its cash fl ows for each of the three years in the period
ended January 31, 2012, in conformity with U.S. generally accepted
accounting principles.
We also have audited, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), Wal-Mart Stores,
Inc.’s internal control over fi nancial reporting as of January 31, 2012, based
on criteria established in Internal Control—Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway
Commission and our report dated March 27, 2012 expressed an
unqualifi ed opinion thereon.
Rogers, Arkansas
March 27, 2012
Report of Independent Registered Public Accounting Firm