What does the auditor exercise throughout the audit of Carbones Pizzeria?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
he year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis of Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to the 2025 FDD, the auditor exercises certain responsibilities throughout the audit of Carbones Pizzeria. The auditor's responsibilities include conducting the audit in accordance with auditing standards generally accepted in the United States of America. These standards require the auditor to be independent of the company, M & T Pizza Incorporated and Subsidiaries, and to meet ethical responsibilities relevant to the audit. The auditor's objective is to obtain sufficient and appropriate audit evidence to provide a basis for their opinion on the financial statements.
The auditor's report states that management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America. Management is also responsible for the design, implementation, and maintenance of internal controls relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Furthermore, management is required to evaluate whether there are conditions or events that raise substantial doubt about Carbones Pizzeria's ability to continue as a going concern within one year after the date that the consolidated financial statements are available to be issued. This evaluation is a critical part of the financial reporting process, ensuring that the financial statements provide a true and fair view of the company's financial position and performance.