Are the financial statements for Carbones Pizzeria as of October 31, 2022, audited?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
LLP Certified Public Accountants and Business Consultants
Member of American Institute of Certified Public A--Member of American Institute of Certified Public Accountants and California Society of Public Accountants Participant in Quality Review Program of AICPA
INDEPENDENT AUDITOR'S REPORT
To the Stockholder M & T Pizza Incorporated and Subsidiaries St. Paul, Minnesota
Opinion
We have audited the accompanying consolidated financial statements of M&T Pizza Incorporated and Subsidiaries ("the Company"), a Minnesota corporation, which comprises the consolidated balance sheet as of October 31, 2022, and the related consolidated statements of income, changes in stockholder's equity, and cash flows for the year then ended and the related notes to consolidated financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of October 31, 2022, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for 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 Financial Statement section of our report. We are required to be independent of M&T Pizza Incorporated and Subsidiaries 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.
Emphasis of Matter
As discussed in Note (G) to these financial statements, on March 11, 2020, the World Health Organization declared the novel strain of coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. The ultimate financial impact and duration of these events cannot be reasonably estimated at this time. Our opinion is not modified with respect to that matter.
Responsibilities of Management for the Consolidated Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 30)
What This Means (2025 FDD)
According to Carbones Pizzeria's 2025 Franchise Disclosure Document, the consolidated financial statements as of October 31, 2022, have been audited by an independent auditor. The auditor's report confirms that the financial statements present fairly the financial position of M&T Pizza Incorporated and Subsidiaries, which includes Carbones Pizzeria, in accordance with accounting principles generally accepted in the United States of America.
The audit was conducted following auditing standards generally accepted in the United States of America, ensuring that the auditor is independent and meets ethical responsibilities. The auditor believes that the evidence obtained was sufficient and appropriate to provide a basis for their opinion.
An emphasis of matter was included in the report regarding the potential impact of the COVID-19 pandemic, though this did not modify the auditor's opinion. The audit provides assurance to potential franchisees that the financial statements of Carbones Pizzeria have been examined by an independent party and found to be fairly presented.