Based on the 2024 Cilantro Taco Grill Franchise Disclosure Document, there is no explicit requirement mandating the inclusion of audited financial statements. However, the FDD does include financial statements. Specifically, the Cilantro Taco Grill FDD mentions that subsequent events related to the financial statements have been evaluated through April 28, 2024, which was the date the financial statements were available to be issued. This suggests that financial statements are part of the FDD, but it does not clarify whether they are audited or if their inclusion is compulsory.

Item 19 of the Cilantro Taco Grill FDD, which covers financial performance representations, states that the FTC permits a franchisor to provide information about the actual or potential financial performance of its franchised and/or franchisor-owned outlets, if there is a reasonable basis for the information, and if the information is included in the disclosure document. Cilantro Taco Grill has included financial representations for 13 affiliate-owned outlets that have been open for at least 12 months, for the fiscal year ending December 31, 2023.

While the FDD includes financial performance representations and refers to financial statements, it does not explicitly state that audited financial statements are a mandatory component of the disclosure document. A prospective franchisee should confirm with Cilantro Taco Grill whether the financial statements provided are audited and what the franchisor's policy is regarding the inclusion of audited financial statements in their FDD.