What is the auditor's responsibility regarding significant audit findings during the audit of Craters & Freighters?

According to Craters & Freighters' 2025 Franchise Disclosure Document, the auditor is required to communicate with those charged with governance regarding the planned scope and timing of the audit. This communication also includes any significant audit findings and certain internal control-related matters identified during the audit.

This means that the auditor, Wipfli LLP, has a responsibility to inform the governing body of Craters & Freighters about the key aspects of the audit process. This includes not only the timeline and breadth of the audit but also any important issues or deficiencies discovered during the examination of the company's financial records and internal controls.

For a potential Craters & Freighters franchisee, this indicates that the franchisor's financial audits are subject to scrutiny, and any significant issues are to be reported to the company's leadership. This promotes transparency and accountability in the financial reporting process. The communication of internal control-related matters suggests that the audit also assesses the effectiveness of Craters & Freighters' internal controls over financial reporting, which can provide insights into the reliability of the financial data.