What ethical responsibilities are the auditors of Carbones Pizzeria required to meet?
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 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.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to the 2025 FDD, the auditors of M & T Pizza Incorporated and Subsidiaries, which includes Carbones Pizzeria, are required to adhere to specific ethical responsibilities. DNJ & Associates, the independent auditor, states they are required to be independent of the company, and they must meet other ethical responsibilities in accordance with the relevant ethical requirements relating to their audit. This declaration ensures that the audit is conducted with integrity and objectivity.
This requirement means that the auditors must not have any financial, personal, or professional relationships with Carbones Pizzeria that could compromise their impartiality. Independence is crucial for maintaining the credibility of the audit and ensuring that the financial statements are fairly presented. The auditors must also comply with all applicable ethical standards set forth by regulatory bodies and professional organizations.
For a prospective Carbones Pizzeria franchisee, this indicates that the financial statements have been reviewed by an independent party who is ethically bound to provide an unbiased opinion. This can provide a level of assurance regarding the financial health and stability of the franchisor. Franchisees can typically rely on audited financial statements to make informed decisions about investing in the franchise, trusting that the information presented is accurate and reliable due to the auditor's ethical obligations.