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Loblaws Annual Report Analysis
Finance & Accounting
Pages 8 (2008 words)
LOBLAW Analysis 1. The 2010 and 2009 show the sales and other expenses that have occurred during the entire year starting from 1st January 2010 to 1st January 2011 and likewise for 2009. It encompasses the 52 weeks that make up one complete year. 2. The company’s auditors are the Licensed Public accountants firm, KPMG.
Such misstatements can arise from either an error or fraud. according to the auditor’s opinion, the consolidated financial statements presented fairly, in all material respects, the consolidated financial position of Loblaw Companies Limited as at January 1, 2011 and were in accordance with the Canadian generally accepted accounting principles. 3. Loblaw is Canada’s largest grocery retailer and has taken several initiatives to ensure it sustains the environment. They practice sustainable seafood and have set up salmon farms. In order to prevent the detrimental impacts of excessive fishing, Loblaw is committed to sourcing 100% of their sold seafood from sustainable sources by the end of 2013. In addition to this, they have a campaign against the plastic bag consumption in their stores and were successful in reducing 2.5 billion plastic bags since 2007. Moreover, Loblaw gave a gift of $3 million to invest in researching sustainable means of food production. They also have initiated solar energy projects in partnership with Northland Power Inc. to help reduce their carbon footprint. Consequently, they have been awarded accolades and are ranked in top 50 Canadian sustainable companies list. 4. ...
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