Are the financial statements for Carbones Pizzeria as of October 31, 2023, audited?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
DNJ & ASSOCIATES
Certified Public Accountants 601 Las Tunas Drive, #108, Arcadia, CA 91007 310-989-8507 www.dnjassociates.com
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 comprise the consolidated balance sheet as of October 31, 2023, and the related consolidated statements of operations, 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 consolidated financial position of the Company as of October 31, 2023, and the results of its operations and cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis of 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 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.
Responsibility of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the consolidated financial statements are available to be issued.
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, 2023, have been audited. The audit was conducted by DNJ & Associates, a firm of Certified Public Accountants. Their opinion is that the financial statements present fairly the consolidated financial position of M&T Pizza Incorporated and Subsidiaries as of October 31, 2023, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.
The Independent Auditor's Report confirms that the audit was performed according to auditing standards generally accepted in the United States of America. These standards require the auditor to be independent and to meet ethical responsibilities. The auditor's report expresses that the audit evidence obtained was sufficient and appropriate to provide a basis for the audit opinion.
Management is responsible for the preparation and fair presentation of the financial statements, including the design, implementation, and maintenance of internal controls. Management must also evaluate whether there are conditions or events that raise substantial doubt about the company's ability to continue as a going concern within one year after the financial statements are issued. This audit provides assurance to potential Carbones Pizzeria franchisees that the financial information has been reviewed by an independent party and found to be fairly presented.