Is the auditor required to be independent of Carbones Pizzeria during the audit?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
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 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.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria Franchise Disclosure Document, the auditor, DNJ & Associates, is required to be independent of M & T Pizza Incorporated and Subsidiaries, which includes Carbones Pizzeria. This requirement is in accordance with auditing standards generally accepted in the United States of America. The auditor must also meet other ethical responsibilities related to the audit.
This independence is crucial for ensuring the credibility and reliability of the financial statements. It assures prospective Carbones Pizzeria franchisees and other stakeholders that the audit is unbiased and objective. The auditor's opinion on the financial statements reflects a fair presentation of the company's financial position and performance as of October 31, 2023, and October 31, 2024.
The auditor's report explicitly states that they believe the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion. This indicates that the audit was conducted thoroughly and in compliance with established auditing standards. This requirement helps protect the interests of franchisees and investors by providing assurance that the financial information is trustworthy and transparent.