What ethical requirements are the auditors of Angry Chickz Franchising, LLC required to meet?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
period from June 9, 2023 (inception) to December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statement section of our report. We are required to be independent of Angry Chickz Franchising, LLC and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, the auditors are required to be independent of Angry Chickz Franchising, LLC. They must also adhere to other ethical responsibilities in accordance with the relevant ethical requirements pertaining to their audit. The auditors' adherence to these standards ensures the integrity and reliability of the financial statements presented.
Specifically, the audit must be conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). These standards dictate the responsibilities of the auditors in conducting their examination and issuing their opinion on the financial statements. The auditors must obtain sufficient and appropriate audit evidence to provide a reasonable basis for their opinion.
Furthermore, the auditors are also required to communicate with those charged with governance regarding the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters identified during the audit. This communication ensures transparency and provides an opportunity for those in governance to address any concerns or issues raised during the audit process.