41 Textron Inc. Annual Report • 2013
Report of IndependentRegisteredPublicAccountingFirm
TheBoardofDirectors andShareholders of Textron Inc.
We have audited Textron Inc.’s internal control over financial reporting as of December 28, 2013, based on criteria established in
Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission
(1992 Framework) (the COSO criteria). Textron Inc.’s management is responsible for maintaining effective internal control over
financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the
accompanying Report of Management. Our responsibility is to express an opinion on the company’s internal control over
financial reportingbasedonour audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control
over financial reportingwasmaintained in all material respects. Our audit included obtaining an understanding of internal control
over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in
the circumstances. We believe that our audit provides a reasonable basis for our opinion.
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that
(1) pertain to themaintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of
financial 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 company’s
assets that couldhave amaterial effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to the risk that controlsmay become inadequate because
of changes in conditions, or that the degree of compliancewith the policies or proceduresmay deteriorate.
In our opinion, Textron Inc. maintained, in all material respects, effective internal control over financial reporting as of December
28, 2013, basedon theCOSO criteria.
We also have audited, in accordance with the standards of the Public Company AccountingOversight Board (United States), the
Consolidated Balance Sheets of Textron Inc. as of December 28, 2013 and December 29, 2012, and the related Consolidated
Statements of Operations, Comprehensive Income (Loss), Shareholders’ Equity and Cash Flows for each of the three years in the
period endedDecember 28, 2013of Textron Inc. and our report datedFebruary14, 2014 expressed anunqualifiedopinion thereon.
Boston,Massachusetts
February 14, 2014
/s/ Ernst&YoungLLP
