What does Cilantro Taco Grill state is required of management in preparing financial statements?

The 2024 Franchise Disclosure Document for Cilantro Taco Grill states that the subsequent events related to the financial statements have been evaluated through April 28, 2024, which is the date the financial statements were available to be issued. The evaluation did not identify any significant events or transactions that would require adjustment to the financial statements.

This indicates that Cilantro Taco Grill's financial statements are prepared with consideration of events occurring after the balance sheet date but before the statements are issued, to ensure they accurately reflect the company's financial position. This is a standard accounting practice to provide users of the financial statements with the most up-to-date and relevant information.

For a prospective franchisee, this suggests that Cilantro Taco Grill is diligent in its financial reporting and adheres to standard accounting practices. However, the FDD does not elaborate on the specific qualifications or expertise required of the management or personnel involved in preparing these financial statements. A potential franchisee might want to inquire further about the specific accounting standards followed and the level of detail provided in their financial reporting.