Who is the auditing firm for Aunt Millies Bakeries?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
Board of Directors Perfection Bakeries, Inc. Fort Wayne, Indiana
Opinion
We have audited the consolidated financial statements of Perfection Bakeries, Inc., which comprise the consolidated balance sheets as of September 30, 2024 and 2023, and the related consolidated statements of income, comprehensive income, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of Perfection Bakeries, Inc. as of September 30, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits 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 Statements section of our report. We are required to be independent of Perfection Bakeries, Inc. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Perfection Bakeries, Inc.'s ability to continue as a going concern for one year from the date the consolidated financial statements are available to be issued.
Auditor's Responsibilities for the Audit of the Financial Statements
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the consolidated financial statements of Perfection Bakeries, Inc., which includes Aunt Millie's, were audited. The audit was conducted for the consolidated balance sheets as of September 30, 2024, and 2023, and the related consolidated statements of income, comprehensive income, and cash flows for the years then ended, along with related notes to the financial statements.
The Independent Auditor's Report indicates that the audits were performed in accordance with auditing standards generally accepted in the United States of America (GAAS). These standards require the auditing firm to be independent of Perfection Bakeries, Inc. and to meet ethical responsibilities related to the audits. The auditor's responsibility includes expressing an opinion on whether the financial statements present fairly the financial position, results of operations, and cash flows of Perfection Bakeries, Inc. in accordance with accounting principles generally accepted in the United States of America.
The FDD does not explicitly name the auditing firm that performed the audit. Instead, it includes a copy of the Independent Auditor's Report issued to the Board of Directors of Perfection Bakeries, Inc. The report outlines the responsibilities of both the management of Perfection Bakeries, Inc. and the auditor in relation to the financial statements.