What is the auditor's responsibility regarding significant audit findings for Aw?

According to Aw's 2025 Franchise Disclosure Document, the auditor is required to communicate with those charged with governance regarding the planned scope and timing of the audit. This communication extends to significant audit findings and certain internal control-related matters identified during the audit. This ensures that key stakeholders are informed about the audit process, its outcomes, and any issues related to internal controls that could impact the financial health and stability of Aw.

For a prospective Aw franchisee, this means that the auditor plays a crucial role in maintaining transparency and accountability within the franchise system. The communication of significant audit findings helps to ensure that any potential financial risks or irregularities are promptly addressed by Aw's management. This can provide franchisees with confidence in the financial integrity of the franchise and its ability to meet its obligations.

It is important for potential franchisees to understand the scope and limitations of the audit. While the auditor aims to provide reasonable assurance that the financial statements are free from material misstatement, this is not an absolute guarantee. The auditor's responsibilities also include evaluating management's accounting policies and estimates, as well as assessing Aw's ability to continue as a going concern. By understanding these responsibilities, franchisees can better assess the reliability of the financial information provided in the FDD and make informed decisions about investing in an Aw franchise.