What auditing standards were used in reviewing the consolidating information for Bb.Q Chicken?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
According to Bb.Q Chicken's 2025 Franchise Disclosure Document, the consolidating information was subjected to auditing procedures applied in the audit of the consolidated financial statements. These procedures included comparing and reconciling the consolidating information directly to the underlying accounting and other records used to prepare the financial statements, or to the consolidated financial statements themselves.
In addition to these procedures, the audit also incorporated other procedures in accordance with auditing standards generally accepted in the United States of America. This means that the audit was conducted following a recognized and standardized set of guidelines and practices used in the accounting profession in the United States.
The independent auditor's report for the years ending December 31, 2024 and 2023, stated that the consolidating information is fairly stated in all material respects in relation to the consolidated financial statements as a whole. This signifies that the information presented is accurate and reliable within the bounds of what is considered significant for the overall financial picture of Bb.Q Chicken.