The management of Darden Restaurants, Inc. is responsible for the fairness and accuracy of the consolidated
financial statements. The consolidated financial statements have been prepared in accordance with U.S.
generally accepted accounting principles, using
management’s best estimates and judgments where
appropriate. The financial information throughout
this report is consistent with our consolidated
financial statements.
Management has established a system of internal
controls that provides reasonable assurance that
assets are adequately safeguarded and transactions
are recorded accurately, in all material respects, in
accordance with management’s authorization. We
maintain a strong audit program that independently
evaluates the adequacy and effectiveness of internal
controls. Our internal controls provide for appropriate
segregation of duties and responsibilities and there
are documented policies regarding utilization of our
assets and proper financial reporting. These formally
stated and regularly communicated policies set high
standards of ethical conduct for all employees.
The Audit Committee of the Board of Directors
meets at least quarterly to determine that management, internal auditors and the independent registered
public accounting firm are properly discharging their
duties regarding internal control and financial reporting. The independent registered public accounting
firm, internal auditors and employees have full and
free access to the Audit Committee at any time.
KPMG LLP, an independent registered public
accounting firm, is retained to audit our consolidated
financial statements. Their report follows.
Clarence Otis, Jr.
Chairman of the Board and
Chief Executive Officer
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Management is responsible for establishing and
maintaining adequate internal control over financial
reporting (as defined in Rule 13a-15(f) under the
Securities Exchange Act of 1934, as amended). The
Company’s internal control over financial reporting
is designed to provide reasonable assurance to the
Company’s management and Board of Directors
regarding the preparation and fair presentation of
published financial statements.
Because of its inherent limitations, internal
control over financial reporting may not prevent or
detect misstatements. Therefore, even those systems
determined to be effective can provide only reasonable assurance with respect to financial statement
preparation and presentation.
Management assessed the effectiveness of the
Company’s internal control over financial reporting
as of May 28, 2006. In making this assessment,
management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control – Integrated
Framework. Management has concluded that, as of
May 28, 2006, the Company’s internal control over
financial reporting was effective based on these criteria.
The Company’s independent registered public
accounting firm, KPMG LLP, has issued an audit
report on our assessment of our internal control
over financial reporting, which follows.
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