What is the significance of the auditor's St. Louis, Missouri location in relation to Craters & Freighters?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control—related matters that we identified during the audit.
Wipfli LLP
St. Louis, Missouri March 26, 2025
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to the 2025 Craters & Freighters FDD, the financial statements were audited by Wipfli LLP, with an office located in St. Louis, Missouri. The auditor's report is dated March 26, 2025. This indicates that Wipfli LLP, based in St. Louis, conducted an independent examination of Craters & Freighters' financial records to ensure they are presented fairly and in accordance with generally accepted accounting principles (GAAP).
The auditor's location is relevant because it provides insight into the professional firm Craters & Freighters uses to maintain financial transparency. While Craters & Freighters' headquarters are in Golden, Colorado, they chose an auditing firm from St. Louis, Missouri. This could be due to a variety of factors, such as a pre-existing relationship, specific expertise offered by the St. Louis office, or competitive pricing.
For a prospective franchisee, the engagement of an independent auditor like Wipfli LLP is a positive sign. It suggests that Craters & Freighters is committed to providing potential franchisees with reliable and unbiased financial information. The audit helps to verify the financial health and stability of the franchisor, which is a critical consideration for anyone investing in a franchise. However, the FDD does not specify the reason for selecting an auditor from St. Louis, Missouri.