Walmart 2014 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2014 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.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

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, 2014 and 2013, and the related
consolidated statements of income, comprehensive income, shareholders’
equity, and cash ows for each of the three years in the period ended
January 31, 2014. These nancial statements are the responsibility of
the Company’s management. Our responsibility is to express an opinion
on these 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 nancial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the nancial statements. An audit also includes
assessing the accounting principles used and signicant estimates made
by management, as well as evaluating the overall nancial statement
presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, the nancial statements referred to above present fairly,
in all material respects, the consolidated nancial position of Wal-Mart
Stores, Inc. at January 31, 2014 and 2013, and the consolidated results of
its operations and its cash ows for each of the three years in the period
ended January 31, 2014, 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 nancial reporting as of January 31, 2014, based
on criteria established in Internal Control-Integrated Framework issued
by the Committee of Sponsoring Organizations of the Treadway
Commission (1992 Framework) and our report dated March 21, 2014
expressed an unqualied opinion thereon.
Rogers, Arkansas
March 21, 2014
60 Walmart 2014 Annual Report
Report of Independent Registered Public Accounting Firm