With whom is the auditor required to communicate regarding the audit of Bb.Q Chicken?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditors' Report
To the Board of Director and Stockholders of BBDOTQ USA, Inc.:
Opinion
We have audited the accompanying consolidated financial statements of BBDOTQ USA, Inc and its subsidiaries (the 'Company") which comprise the balance sheet as of December 31, 2024 and 2023, and the related statements income and retained deficit and cash flows for the years then ended and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of BBDOTQ USA INC. and its Subsidiaries as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis of Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and the fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
According to Bb.Q Chicken's 2025 Franchise Disclosure Document, the Independent Auditors' Report is addressed to the Board of Directors and Stockholders of BBDOTQ USA, Inc. This indicates that the auditor's primary communication regarding the financial audit is directed towards these governing bodies of the company.
The auditor's report includes their opinion on the consolidated financial statements of BBDOTQ USA, Inc. and its subsidiaries, covering the balance sheets as of December 31, 2024, and 2023, as well as the related statements of income, retained deficit, and cash flows for those years. The report also outlines the responsibilities of both the management and the auditor in relation to these financial statements.
Specifically, management is responsible for the preparation and fair presentation of the financial statements, including the implementation and maintenance of internal controls. The auditor's responsibility is to express an opinion on these financial statements based on their audit, conducted in accordance with auditing standards generally accepted in the United States of America. This ensures that the financial statements are free from material misstatement, whether due to fraud or error, providing stakeholders with confidence in the accuracy and reliability of the financial reporting.