What procedures are included in the audit of Bb.Q Chicken's financial statements?
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 audit of the consolidating information includes specific procedures. These procedures involve subjecting the information to auditing standards that are generally accepted in the United States of America. The audit includes comparing and reconciling the consolidating information directly to the underlying accounting and other records used to prepare the consolidated financial statements. It also involves comparing and reconciling the information to the consolidated financial statements themselves.
These procedures are the responsibility of the management of Bb.Q Chicken and are derived from and directly relate to the accounting and other records used to prepare the financial statements. The purpose of these procedures is for additional analysis of the consolidated financial statements.
Prospective franchisees should understand that the auditors do not express an opinion on the financial position, results of operations, and cash flows of the individual companies. Instead, the audit procedures focus on ensuring that the consolidating information is fairly stated in relation to the consolidated financial statements as a whole.