Compare this report (Bemis Company) with Exhibit 2-5 (Audit Opinion) and Exhibit 2-6 (Auditor's Report on the firm's Internal Controls). What is the basic difference in presentation? Bemis Company Report of Independent Registered Public Accounting Firm To the Board of Directors of Bemis Company, Inc. In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, of equity and of cash flows present fairly, in all material respects of their operations and their cash flows for each of the subsidiaries at December 31, 2009 and 2008, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2009 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2009, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company's management is responsible for these financial statements, for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in "Management's Report on Internal Control over Financial Reporting" appearing under Item 9A in this Annual Report. Our responsibility is to express opinions on these financial statements and on the Company's internal control over financial reporting based on our integrated 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 financial statements are free of material misstatement and whether effective internal control financial reporting was maintained in all material respects. Our audits of the financial statements included examining on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial 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. As described in Note 13 to the consolidated financial statements, effective January 1, 2007, the Company changed the manner in which it accounts for uncertain tax positions. As described in Note 2 to the consolidated financial statements, in 2009 the Company changed the manner in which it accountes for noncontrolling interests, accounts for business combinations, and calculates earnings per share. 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 purposed in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (i)pertain to the maintenance of records that , in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company, (ii)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial staements 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 (iii) provide reasonable assets that could have a material effect on the financial statements. 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. Exhibit 2-5 Report of Independent Registered Public Accounting Firm The Board of Directors and Stockholders T. Rowe Price Group, Inc We have audited the accompanying consolidated balance sheets of T. Rowe Price Group, Inc and subsidiaries (the Company) as of December 31, 2010 and 2009, and the related consolidated statements of income, stockholders' equity, and cash flows for each of the years in the three year period ended December 31, 2010. these consolidated financial statements are the responsibility of the Companys' management. Our responsibility is to express an opinion on these consolidated financial statements 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 audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also inclues assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our auditsprovide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of T. Rowe Price Group, Inc and subsidiaries as of December 31, 2010 and 2009 and the results of their cash flows for each of the years in the three year period ended December 31, 2010, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company's internal control over financial reporting as of December 31, 2010 based on criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Orgainzations of the Treadway Commission (COSO) and our report dated February 8, 2011, expressed an unqualified opinion on the effectiveness of the Company's internal control over financial reporting. Exhibit 2-6 Report of Independent Registered Pubilc Accounting Firm The Board of Directors and Stockholders T. Rowe Price Group, Inc We have audited T. Rowe Price Group, Inc and subsidiaries (the company) internal control over financial reporting as of December 31, 2010, based on criteria established in Internal Control-Inegrated Framework issued by the Committee of Sponsoring Orgainzations of the Treadway Commission (COSO). The Company's management is responsible for maintaining effective internal control over financial reporting and for it assessment of the effectiveness of internal control over financial reporting, included in the accompanying Report of Management on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Companys' internal control over financial reporting based on our 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 ablut whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assedssed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonanble basis for our opinion. A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financila reporting and the preparation of financial statements for external purposes in accordance with generally accepted accountng principles. A companys internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in resonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonble assurance that transactions are recorded as neccessary to permit perparation of financial statements in accordance with generally accepted accounting princplies, and that receipts and expenditures of the company are being made only in accordance with authorizations of managment 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 could have a material effect on the financial statements. Because of its inherent limitations internal control over financial reporting may not preventor detect misstatements. Also , projections of any evaluation of effectivenss 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 opionion T. Rowe Price, Inc and subsidiaires maintained in all material respects, effective internal control over financial reporting as of December 31, 2010 based on criteria established in Internal Control Integrated Framework issued byy the Committee of Sponsoring Organizations of the Treadway Commisiion. We aalso have audited, in accordance with the standards of the Public Company Accounting Oversight Board (united States) the consolidated balance sheets of T. Rowe Price Group, Inc and subsidiaries as of December 31, 2010 and 2009 nad the related consolidated statements of income, stockholders equity , and cash flows foreach of the years in the three year period ended December 31, 2010, and our report dated February 8, 2011, expressed an unqualified opinion on those consolidated financial statements