Is the accountant required to be independent of 2703203 Manitoba, Ltd. when reviewing Coffee News?

According to Coffee News's 2025 Franchise Disclosure Document, the accountant performing the review of 2703203 Manitoba, Ltd.'s financial statements is required to be independent. Specifically, the document states that the accounting firm must adhere to ethical responsibilities related to the review, which includes independence from 2703203 Manitoba, Ltd.

This requirement ensures that the financial statements of Coffee News's parent company, 2703203 Manitoba, Ltd., are reviewed objectively and without any conflicts of interest. An independent review provides franchisees and potential investors with a higher level of confidence in the accuracy and reliability of the financial information presented.

The review is conducted in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. The review's scope is substantially less than an audit, so the accountant does not express an opinion regarding the financial statements as a whole. Instead, the accountant offers limited assurance, concluding whether they are aware of any material modifications needed for the financial statements to conform with the basis of accounting the company uses for income tax purposes.