Eme r s on 2013 Ann u al R e por t 55 r eport of i ndependent r egistered Public a ccounting Firm The Board of Directors and Stockholders Emerson Electric Co We have audited the accompanying consolidated balance sheets of Emerson Electric Co and subsidiaries as of September 30 2013 and 2012 and the related consolidated statements of earnings comprehensive income equity and cash fows for each of the years in the threeyear period ended September 30 2013 We also have audited Emerson Electric Cos internal control over fnancial reporting as of September 30 2013 based on criteria established in Internal Control Integrated Framework 1992 issued by the Committee of Sponsoring Organizations of the Treadway Commission COSO Emerson Electric Cos management is responsible for these consolidated fnancial statements for maintaining effective internal control over fnancial reporting and for its assessment of the effectiveness of internal control over fnancial reporting included in the accompanying Managements Report on Internal Control over Financial Reporting Our responsibility is to express an opinion on these consolidated fnancial statements and an opinion on the Companys internal control over fnancial reporting 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 audits to obtain reasonable assurance about whether the fnancial statements are free of material misstatement and whether effective internal control over fnancial reporting was maintained in all material respects Our audits of the consolidated fnancial statements included examining on a test basis evidence supporting the amounts and disclosures in the fnancial statements assessing the accounting principles used and signifcant estimates made by management and evaluating the overall fnancial statement presentation Our audit of internal control over fnancial reporting included obtaining an understanding of internal control over fnancial reporting assessing the risk that a material weakness exists and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk Our audits also included performing such other procedures as we considered necessary in the circumstances We believe that our audits provide a reasonable basis for our opinions A companys internal control over fnancial reporting is a process designed to provide reasonable assurance regarding the reliability of fnancial reporting and the preparation of fnancial statements for external purposes in accordance with generally accepted accounting principles A companys internal control over fnancial reporting includes those policies and procedures that 1 pertain to the maintenance of records that in reasonable detail accurately and fairly refect the transactions and dispositions of the assets of the company 2 provide reasonable assurance that transactions are recorded as necessary to permit preparation of fnancial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company and 3 provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition use or disposition of the companys assets that could have a material effect on the fnancial statements Because of its inherent limitations internal control over fnancial reporting may not prevent or detect misstatements Also projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate In our opinion the consolidated fnancial statements referred to above present fairly in all material respects the fnancial position of Emerson Electric Co and subsidiaries as of September 30 2013 and 2012 and the results of its operations and its cash fows for each of the years in the threeyear period ended September 30 2013 in conformity with US generally accepted accounting principles Also in our opinion Emerson Electric Co maintained in all material respects effective internal control over fnancial reporting as of September 30 2013 based on criteria established in Internal Control Integrated Framework 1992 issued by the Committee of Sponsoring Organizations of the Treadway Commission St Louis Missouri November 19 2013