Regarding the unaudited financial statements for Carbones Pizzeria, has a Certified Public Accountant expressed an opinion on the contents and form?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria FDD, the financial statements have been audited by a Certified Public Accountant. Specifically, for the fiscal years ending October 31, 2023 and October 31, 2024, the consolidated financial statements of M & T Pizza Incorporated and Subsidiaries, which includes Carbones Pizzeria, were audited by DNJ & Associates, Certified Public Accountants. They issued an independent auditor's report expressing their opinion on the fairness of the presentation of the company's financial position and results of operations in accordance with accounting principles generally accepted in the United States of America.
For the fiscal year ended October 31, 2022, the consolidated financial statements of M&T Pizza Incorporated and Subsidiaries were audited by LLP Certified Public Accountants and Business Consultants. They also issued an independent auditor's report with a similar opinion regarding the fair presentation of the company's financial position and results of operations in accordance with accounting principles generally accepted in the United States of America.
These independent auditor's reports provide assurance to potential Carbones Pizzeria franchisees that the financial statements have been examined by qualified professionals. This reduces the risk of material misstatement and increases the reliability of the financial information presented in the FDD. Franchisees can use this information to make more informed decisions about their investment in a Carbones Pizzeria franchise.