For Checkers, which accounting firm provided the Report of Independent Auditors?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
GRANT THORNTON LLP
101 E. Kennedy Blvd., Suite 3850 Tampa, FL 33602
D +1 813 229 7201 F +1 813 223 3015
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Board of Directors Checkers Drive-In Restaurants, Inc. and Subsidiaries
Opinion
We have audited the consolidated financial statements of Checkers Drive-In Restaurants, Inc. and Subsidiaries (the "Company"), which comprise the consolidated balance sheet as of December 30, 2024 (Successor) and the related consolidated statement of operations, changes in stockholders' equity, and cash flows for the year then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 30, 2024 (Successor), 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 of the consolidated financial statements in accordance with auditing standards generally accepted in the United States of America (US GAAS). 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 audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Other Matter
The consolidated financial statements of the Company as of January 1, 2024 (Successor), for the period from June 17, 2023 through January 1, 2024 (Successor) and the period from January 3, 2023 through June 16, 2023 (Predecessor) were audited by other auditors, who expressed an unmodified opinion on those consolidated financial statements in their report dated August 13, 2024.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, two different accounting firms provided reports of independent auditors for different periods. Grant Thornton LLP provided the report for the fiscal year ended December 30, 2024. Ernst & Young LLP provided the report for the periods including January 1, 2024 (Successor) and January 2, 2023 (Predecessor).
For prospective franchisees, this means that the financial statements included in the FDD have been audited by independent firms, lending credibility to the financial information presented. It is common practice for franchisors to have their financial statements audited by reputable accounting firms to ensure accuracy and compliance with accounting standards.
However, the fact that Checkers used two different firms within a relatively short period might warrant further investigation by a potential franchisee. It would be prudent to inquire with Checkers about the reason for the change in auditors and whether there were any disagreements or concerns that led to the switch.