What certification must accompany all financial statements submitted by a Bor Restoration franchisee?

According to Bor Restoration's 2024 Franchise Disclosure Document, all financial statements that a franchisee submits, whether monthly, quarterly, or yearly, must be accompanied by a specific certification. This certification must be a statement confirming the accuracy and truthfulness of the documents.

The statement must be certified under penalty of perjury. This means that the person signing the certification is attesting to the accuracy of the financial statements under the threat of legal consequences for providing false information. The certification must be provided by the employee, independent contractor, bookkeeper, accountant, or certified public accountant who prepared the statements.

This requirement ensures that Bor Restoration receives reliable and accurate financial information from its franchisees. It also ensures that the bookkeeping and accounting are completed by someone other than the franchisee or a family member. This helps maintain the integrity of the financial reporting process and allows Bor Restoration to monitor the financial performance of its franchisees effectively. This is a fairly standard practice in franchising, as franchisors need accurate financial data for royalty calculations and system-wide performance analysis.