What must accompany all Bor Restoration financial statements?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
- i.
All financial statements must be accompanied by a statement certified under penalty of perjury from the employee, independent contractor, bookkeeper, accountant, or certified public accountant that the documents are true and accurate.
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, all financial statements that franchisees submit to the franchisor must include a statement certifying the accuracy of the documents. This statement must be signed under penalty of perjury.
The certification must come from the employee, independent contractor, bookkeeper, accountant, or certified public accountant who completed the bookkeeping and accounting. This individual cannot be the franchisee or a family member.
This requirement ensures that Bor Restoration receives reliable and accurate financial information from its franchisees. It also underscores the importance of engaging a qualified professional for bookkeeping and accounting services, adding to the operational costs for the franchisee.