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DARDEN RESTAURANTS
Forward-Looking
Statements
Certain
information included in this report and other materials filed or to be filed
by the Company with the Securities and Exchange Commission (as well as information
included in oral statements or written statements made or to be made by the
Company) may contain statements that are forward-looking within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Such statements include information
relating to current expansion plans, business development activities, and Year
2000 compliance. Such forward-looking information is based on assumptions concerning
important risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ from those expressed
in any forward-looking statements made by or on behalf of the Company. These
risks and uncertainties include, but are not limited to, those relating to real
estate development and construction activities, the issuance and renewal of
licenses and permits for restaurant development and operation, economic conditions,
changes in federal or state laws or the administration of such laws, and the
Year 2000 readiness of suppliers, banks, vendors and others having a direct
or indirect business relationship with the Company.
DARDEN RESTAURANTS
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 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 separation of duties and responsibilities, and there are documented policies regarding utilization of Company assets and proper financial reporting. These formally stated and regularly communicated policies demand highly ethical conduct from all employees.
The Audit Committee of the Board of Directors meets regularly to determine that management, internal auditors and independent auditors are properly discharging their duties regarding internal control and financial reporting. The independent auditors, internal auditors and employees have full and free access to the Audit Committee at any time.
KPMG LLP, independent certified public accountants, are retained to audit the consolidated financial statements. Their report follows.
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