What does the audit of Bananas Smoothies Frozen Yogurt entail regarding internal controls?

According to the 2025 FDD, the audit of Everything Yogurt Brands, LLC, which includes Bananas Smoothies Frozen Yogurt, involves obtaining an understanding of internal control relevant to the audit. However, the audit's purpose is not to express an opinion on the effectiveness of the company's internal control, and therefore, no such opinion is expressed. The auditors design audit procedures appropriate to the circumstances based on their understanding of the internal controls.

The auditors' responsibilities include identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error. They examine evidence regarding the amounts and disclosures in the financial statements on a test basis. The auditors also evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as the overall presentation of the financial statements.

Furthermore, the auditors are 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 that relevant parties are informed about the audit process and any significant issues that arise.