What is the auditor's responsibility regarding the timing of the audit for Carbones Pizzeria?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to the 2025 FDD, the auditor for Carbones Pizzeria is required to communicate with those charged with governance regarding the planned scope and timing of the audit. This communication ensures that the audit is appropriately planned and executed.
This includes discussing significant audit findings and certain internal control-related matters identified during the audit. By communicating these issues, the auditor keeps the relevant parties informed about the financial health and operational effectiveness of Carbones Pizzeria.
For a prospective franchisee, this means that the financial statements have been reviewed by an independent party, and any significant issues or concerns have been communicated to those overseeing the company. This provides a level of assurance regarding the financial information presented in the FDD. The audit reports included in Item 22 cover the fiscal years ending October 31, 2022, October 31, 2023 and October 31, 2024.