Regarding Baymont Inn Suites, what reasonable assurance do their disclosure controls and procedures provide concerning the information required to be disclosed in reports filed under the Exchange Act?
Baymont_Inn_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
Disclosure Controls and Procedures. Our management, with the participation of our principal executive and principal financial officers, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the end of the period covered by this report. Based on such evaluation, our principal executive and principal financial officers have concluded that, as of the end of such period, our disclosure controls and procedures were effective and operating to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and to provide reasonable assurance that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.
Management's Report on Internal Control Over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) under the Exchange Act. Our management assessed the effectiveness of our internal control over financial reporting as of December 31, 2024. In making this assessment, management used the criteria established in Internal Control - Integrated Framework (2013)issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, our management believes that, as of December 31, 2024, our internal control over financial reporting is effective. Our independent registered public accounting firm has issued an attestation report on the effectiveness of our internal control over financial reporting, which is included within their audit opinion on page F-2.
Source: Item 23 — RECEIPTS (FDD pages 97–443)
What This Means (2025 FDD)
According to Baymont Inn Suites's 2025 Franchise Disclosure Document, the company's management, including its principal executive and financial officers, has evaluated the effectiveness of its disclosure controls and procedures. This evaluation is based on the criteria defined in Rule 13a-15(e) under the Securities Exchange Act of 1934. The purpose of these controls and procedures is to ensure that all information required to be disclosed in reports filed or submitted under the Exchange Act is accurately recorded, processed, summarized, and reported within the timeframes specified by the SEC's rules and forms. These controls also ensure that this information is communicated to management, including the principal executive and financial officers, to facilitate timely decisions regarding required disclosures.
The document states that, as of the end of the period covered by the report, Baymont Inn Suites's disclosure controls and procedures were deemed effective and operating. This means that they provide reasonable assurance that the information required in the reports is handled appropriately and in a timely manner. Furthermore, management has assessed the effectiveness of the company's internal control over financial reporting as of December 31, 2024, using criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
Based on this assessment, Baymont Inn Suites's management believes that their internal control over financial reporting was effective as of December 31, 2024. Additionally, the company's independent registered public accounting firm has issued an attestation report on the effectiveness of their internal control over financial reporting, which is included within their audit opinion. This indicates that Baymont Inn Suites has taken steps to ensure the accuracy and reliability of its financial reporting, which is a positive sign for prospective franchisees.