What financial statements of Bb.Q Chicken were audited by the company's auditors?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
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 the 2025 Bb.Q Chicken Franchise Disclosure Document, the company's auditors have audited the consolidated financial statements of BBDOTQ USA, Inc. and its subsidiaries. These audits include the balance sheets as of December 31, 2024 and 2023, and the related statements of income and retained deficit, and cash flows for the years then ended, along with related notes to the financial statements. The auditor's report expresses an opinion on whether these financial statements present fairly the financial position, results of operations, and cash flows of Bb.Q Chicken in accordance with accounting principles generally accepted in the United States of America.
Specifically, the auditors' report confirms that management is responsible for preparing and fairly presenting these financial statements according to U.S. accounting principles. This includes designing, implementing, and maintaining internal controls relevant to ensuring the financial statements are free from material misstatement, whether due to fraud or error. The auditor's responsibility is to express an opinion based on their audit, which is conducted according to auditing standards generally accepted in the United States of America. These standards require the auditor to plan and perform the audit to obtain reasonable assurance that the financial statements are free from material misstatements.
Prospective franchisees should understand that audited financial statements provide a higher level of assurance regarding the accuracy and reliability of the financial information presented. This is because an independent auditor has examined the statements and expressed an opinion on their fairness. This contrasts with unaudited financial statements, which do not have the same level of independent verification. Reviewing these audited statements can help potential franchisees assess the financial health and stability of Bb.Q Chicken before making an investment decision.