What constitutes sufficient and appropriate audit evidence for the audit opinion of Carbones Pizzeria?

According to the 2025 FDD, the independent auditor's reports state that the audits of M&T Pizza Incorporated and Subsidiaries (which include Carbones Pizzeria) were conducted in accordance with auditing standards generally accepted in the United States of America. As part of the audit process, the auditor has specific responsibilities, including remaining independent of the company and meeting ethical requirements. The auditors must also obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.

Based on these standards, the auditors must gather sufficient and appropriate audit evidence to support their opinion on the financial statements. This evidence forms the basis for the auditor's belief that the financial statements present fairly the financial position, results of operations, and cash flows of Carbones Pizzeria in accordance with accounting principles generally accepted in the United States of America. The auditor must evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.

Furthermore, the auditor must conclude whether there are conditions or events that raise substantial doubt about Carbones Pizzeria's ability to continue as a going concern. They are also required to communicate with those charged with governance regarding the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters identified during the audit. The auditor's opinion is not an opinion on the effectiveness of the company's internal control.