What matters are the auditors required to communicate regarding the audit of Bb.Q Chicken?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
ONE STATION PLAZA
RIDGEFIELD PARK, NJ 07660 TEL: (201)699-0969 FAX:(201)917-5017 sseo@scjcpa.com
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 auditor's report outlines several key responsibilities and opinions. The auditor's report includes an opinion on the consolidated financial statements of BBDOTQ USA, Inc. and its subsidiaries, covering the balance sheets as of December 31, 2024, and 2023, along with statements of income, retained deficit, and cash flows for the years then ended. The auditor expresses an opinion on whether these financial statements present fairly the financial position, results of operations, and cash flows in accordance with accounting principles generally accepted in the United States of America. The report assures that the audit evidence obtained is sufficient and appropriate to support the audit opinion. This provides assurance to potential investors and franchisees about the financial health and reporting accuracy of Bb.Q Chicken.
The auditor's responsibilities include conducting audits in accordance with auditing standards generally accepted in the United States of America. These standards require the auditor to be independent of the company and to meet ethical responsibilities related to the audits. The auditor is responsible for planning and performing the audit to obtain reasonable assurance that the financial statements are free from material misstatements. This involves assessing the risks of material misstatement, whether due to fraud or error, and designing audit procedures to respond to those risks.
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. This includes designing, implementing, and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. The auditor's report clarifies the division of responsibilities between management and the auditor in the financial reporting process. This delineation of duties ensures that both parties understand their roles in maintaining the integrity of the financial statements.