What is the date of the audit opinion for Benihana?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
F-1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the shareholders and the Board of Directors of The ONE Group Hospitality, Inc.
Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of The ONE Group Hospitality, Inc. and subsidiaries (the "Company") as of December 31, 2023 and 2022, the related consolidated statements of operations and comprehensive income (loss), changes in shareholders' equity, and cash flows, for each of the two years in the period ended December 31, 2023 and 2022, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2023 and 2022, in conformity with accounting principles generally accepted in the United States of America.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated March 12, 2024, expressed an unqualified opinion on the Company's internal control over financial reporting.
Basis for Opinion
These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the audit opinion on the financial statements of The ONE Group Hospitality, Inc. and subsidiaries is dated March 12, 2024, for the years ending December 31, 2023 and 2022. This opinion confirms that the financial statements present fairly the financial position of the company as of those dates, in conformity with accounting principles generally accepted in the United States of America.
Additionally, an audit of the company's internal control over financial reporting as of December 31, 2023, was conducted, and an unqualified opinion was expressed in a report also dated March 12, 2024. This indicates that Benihana's parent company maintained effective internal control over financial reporting as of the end of 2023.
For the financial years 2022 and 2021, the audit opinion on the financial statements is dated March 9, 2023. This opinion also confirmed that the financial statements presented fairly the financial position of the company for those years, in conformity with accounting principles generally accepted in the United States of America. Furthermore, the audit of internal control over financial reporting as of December 31, 2022, led to an unqualified opinion, as expressed in the report dated March 9, 2023.
Prospective franchisees should note these dates as they indicate when the financial statements and internal controls of Benihana's parent company were last audited. Reviewing these audited financial statements and understanding the scope and findings of the audit can provide valuable insights into the financial health and stability of the company.