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CVS » Topics » Audit Committee Report

This excerpt taken from the CVS DEF 14A filed Mar 24, 2009.

Audit Committee Report

The Audit Committee of the Board of Directors (for purposes of this report, the “Committee”) is composed of five independent directors. Set forth below is the report of the Committee on its activities with respect to CVS Caremark’s audited financial statements for the fiscal year ended December 31, 2008 (the “audited financial statements”).

 

  n The Committee has reviewed and discussed the audited financial statements with management;

 

  n The Committee has discussed with Ernst & Young LLP (“Ernst & Young”), the Company’s independent registered public accounting firm, the matters required to be discussed by Statement on Auditing Standards No. 61, as amended and as adopted by the Public Company Accounting Oversight Board (“PCAOB”) in Rule 3200T;

 

  n The Committee has received the written disclosures and the letter from Ernst & Young pursuant to applicable requirements of the PCAOB regarding Ernst & Young’s communications with the Committee concerning independence, and has discussed with Ernst & Young its independence from the Company; and

 

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  n Based on the review and discussions referred to above and relying thereon, the Committee has recommended to the Board of Directors that the audited financial statements be included in CVS Caremark’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, for filing with the SEC.

March 3, 2009

William H. Joyce, Chair

Edwin M. Banks

Kristen Gibney Williams

Marian L. Heard

Richard J. Swift

This excerpt taken from the CVS DEF 14A filed Mar 28, 2008.

Audit Committee Report

The Audit Committee of the Board of Directors (for purposes of this report, the “Committee”) is composed of five independent directors. Set forth below is the report of the Committee on its activities with respect to CVS Caremark’s audited financial statements for the fiscal year ended December 29, 2007 (the “audited financial statements”).

 

  n The Committee has reviewed and discussed the audited financial statements with management;

 

  n The Committee has discussed with Ernst & Young LLP, the Company’s independent registered public accounting firm, the matters required to be discussed by Statement on Auditing Standards No. 61, as amended and as adopted by the Public Company Accounting Oversight Board (“PCAOB”) in Rule 3200T;

 

  n The Committee has received the written disclosures and the letter from Ernst & Young LLP required by Independence Standards Board Standard No. 1, as adopted by the PCAOB in Rule 3600T, and has discussed with Ernst & Young LLP its independence from the Company; and

 

  n Based on the review and discussions referred to above and relying thereon, the Committee has recommended to the Board of Directors that the audited financial statements be included in CVS Caremark’s Annual Report on Form 10-K for the fiscal year ended December 29, 2007, for filing with the SEC.

March 4, 2008

William H. Joyce, Chair

Edwin M. Banks

Kristen Gibney Williams

Marian L. Heard

Richard J. Swift

 

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This excerpt taken from the CVS DEF 14A filed Apr 4, 2007.

Audit Committee Report

The Audit Committee of the Board of Directors (for purposes of this report, the “Committee”) is composed of four independent outside directors. Set forth below is the report of the Committee on its activities with respect to CVS’ audited financial statements for the fiscal year ended December 30, 2006 (the “audited financial statements”).

 

  n The Committee has reviewed and discussed the audited financial statements with management;

 

  n The Committee has discussed with KPMG LLP, the Company’s independent registered public accounting firm, the matters required to be discussed by Statements on Auditing Standards No. 61;

 

  n The Committee has received the written disclosures and the letter from KPMG required by Independence Standards Board Standard No. 1, and has discussed with KPMG its independence from CVS; and

 

  n Based on the review and discussions referred to above and relying thereon, the Committee has recommended to the Board of Directors that the audited financial statements be included in CVS’ Annual Report on Form 10-K for the fiscal year ended December 30, 2006, for filing with the U.S. Securities and Exchange Commission.

February 27, 2007

William H. Joyce, Chair

Marian L. Heard

Richard J. Swift

Alfred J. Verrecchia

 

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This excerpt taken from the CVS DEF 14A filed Mar 24, 2006.

Audit Committee Report

 

The Audit Committee of the Board of Directors (for purposes of this report, the “Committee”) is composed of four independent outside directors. The Committee has prepared the following report on its activities with respect to CVS’ audited financial statements for the fiscal year ended December 31, 2005 (the “audited financial statements”).

 

  n The Committee has reviewed and discussed the audited financial statements with management;

 

  n The Committee has discussed with KPMG LLP, the Company’s independent registered public accounting firm, the matters required to be discussed by Statements on Auditing Standards No. 61;

 

  n The Committee has received the written disclosures and the letter from KPMG required by Independence Standards Board Standard No. 1, and has discussed with KPMG its independence from CVS; and

 

  n Based on the review and discussions referred to above and relying thereon, the Committee has recommended to the Board of Directors that the audited financial statements be included in CVS’ Annual Report on Form 10-K for the fiscal year ended December 31, 2005, for filing with the U.S. Securities and Exchange Commission.

 

William H. Joyce, Chair

Thomas P. Gerrity

Marian L. Heard

Alfred J. Verrecchia

 

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This excerpt taken from the CVS DEF 14A filed Mar 25, 2005.

Audit Committee Report

 

The Audit Committee of the Board of Directors (for purposes of this report, the “Committee”) is composed of four independent outside directors. The Committee has prepared the following report on its activities with respect to CVS’ audited financial statements for the fiscal year ended January 1, 2005 (the “audited financial statements”).

 

  n The Committee has reviewed and discussed the audited financial statements with management;

 

  n The Committee has discussed with KPMG LLP, the Company’s independent registered public accounting firm, the matters required to be discussed by Statements on Auditing Standards No. 61;

 

  n The Committee has received the written disclosures and the letter from KPMG required by Independence Standards Board Standard No. 1, and has discussed with KPMG its independence from CVS; and

 

  n Based on the review and discussions referred to above and relying thereon, the Committee has recommended to the Board of Directors that the audited financial statements be included in CVS’ Annual Report on Form 10-K for the fiscal year ended January 1, 2005, for filing with the U.S. Securities and Exchange Commission.

 

William H. Joyce, Chair

Thomas P. Gerrity

Marian L. Heard

Alfred J. Verrecchia

 

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EXCERPTS ON THIS PAGE:

DEF 14A
Mar 24, 2009
DEF 14A
Mar 28, 2008
DEF 14A
Apr 4, 2007
DEF 14A
Mar 24, 2006
DEF 14A
Mar 25, 2005

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