Who is the review report for Coffee News' financial statements addressed to?
Coffee_News Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
The Boards of Directors Coffee News USA, Inc.
Opinion
We have audited the accompanying financial statements of Coffee News USA, Inc. (a Maine corporation), which comprise the balance sheets as of December 31, 2024, 2023 and 2022, and the related statements of income and retained earnings, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 23 — Receipts (FDD pages 36–118)
What This Means (2025 FDD)
According to the 2025 Coffee News Franchise Disclosure Document, the Independent Auditor's Report is addressed to the Boards of Directors of Coffee News USA, Inc. This indicates that the auditor's findings and opinion on the financial statements are specifically directed to the governing body of the Coffee News USA corporation.
This is a standard practice in corporate governance, ensuring that those responsible for overseeing the company's financial performance are directly informed of the auditor's assessment. The report covers the balance sheets as of December 31, 2024, 2023, and 2022, along with the related statements of income and retained earnings, and cash flows for those years.
For a prospective Coffee News franchisee, this information confirms that Coffee News USA's financial statements are subject to external audit and that the results of these audits are communicated to the company's board of directors. This arrangement promotes transparency and accountability within the Coffee News organization.