What does the auditing firm believe regarding the audit evidence obtained for the Craters & Freighters audit?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
We conducted our audits in accordance with auditing standards generally accepted in the United States of America ("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 Craters & Freighters Franchise 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Craters & Freighters' 2025 Franchise Disclosure Document, the auditing firm Wipfli LLP believes that the audit evidence they obtained is sufficient and appropriate to provide a basis for their audit opinion. This opinion is based on audits conducted in accordance with auditing standards generally accepted in the United States of America (GAAS).
The auditor's report states that Craters & Freighters' financial statements present fairly, in all material respects, the financial position of the company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
This statement is important for prospective franchisees as it provides assurance that an independent firm has reviewed Craters & Freighters' financial records and found them to be fairly presented. This helps potential franchisees make informed decisions about investing in a Craters & Freighters franchise.