Is the annual statement of operations for the Bb.Q Chicken Brand Development Fund audited?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report on Consolidating Information December 31, 2024 and 2023
Independent Auditors' Report on Consolidating Information
To the Board of Director and Stockholders of BBDOTQ USA, Inc.:
We have audited the accompanying consolidated financial statements of BBDOTQ USA, Inc and its subsidiaries for the period ended December 31, 2024 and 2023, and our report thereon dated February 24, 2025, which expresses an unqualified opinion on those financial statements, appears on page 1. Our audits were conducted for the purpose of forming an opinion on the consolidated financial statements as a whole. The consolidating information in Schedule I and II is presented for purpose of additional analysis of the consolidated financial statements rather than to present the financial position, results of operation, and cash flows of the individual companies, and it is not a required part of the consolidated financial statements. Accordingly, we do not express an opinion on the financial position, result of operations, and cash flows of the individual companies.
The consolidating information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare financial statements. Such information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, consolidating information is fairly stated in all material respects in relation to the consolidated financial statements as a whole.
Ridgefield Park, New Jersey
February 24, 2025
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
The 2025 Bb.Q Chicken Franchise Disclosure Document includes Independent Auditor's Reports on Consolidating Information for December 31, 2024 and 2023. These reports relate to the consolidated financial statements of BBDOTQ USA, Inc. and its subsidiaries. The reports confirm that the consolidating information has been subjected to auditing procedures. However, the auditor's opinion does not extend to the financial position, results of operations, and cash flows of the individual companies. Instead, the audit expresses an opinion on the consolidated financial statements as a whole.
The Independent Auditor's Report states that the consolidating information is the responsibility of the Bb.Q Chicken's management and is derived from the company's accounting records. The auditor's procedures include comparing and reconciling the consolidating information to the underlying accounting records and the consolidated financial statements. The report for December 31, 2024 and 2023 expresses an unqualified opinion, while the report for December 31, 2023 and 2022 expresses a qualified opinion.
While these reports indicate that financial information is audited, they do not explicitly state whether the annual statement of operations for the Bb.Q Chicken Brand Development Fund is specifically audited. A prospective franchisee should seek clarification from Bb.Q Chicken regarding the auditing of the Brand Development Fund's annual statement of operations to ensure transparency and accountability in the fund's management.