What is the auditor's belief regarding the audit evidence obtained for Bombs Away?

According to Bombs Away's 2024 Franchise Disclosure Document, the auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion. This statement appears in the context of the auditor's responsibility to express an opinion on the financial statements based on their audit, which was conducted in accordance with 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 misstatement.

In conducting the audit, the auditor performs procedures to obtain audit evidence about the amounts and disclosures in the financial statements. These procedures are selected based on the auditor's judgment, including an assessment of the risks of material misstatement, whether due to fraud or error. The auditor also considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design appropriate audit procedures, though not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.

The auditor's opinion indicates that the financial statements present fairly, in all material respects, the financial position of Bombs Away as of December 31, 2023, and the results of its operations and its cash flows for the twelve-month period ended December 31, 2023, in accordance with accounting principles generally accepted in the United States of America. This opinion is based on the audit evidence obtained and the auditor's belief that it is sufficient and appropriate. The auditor's report also clarifies management's responsibilities for the financial statements, including the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements.