What is the auditor's responsibility regarding independence from Crave Franchising, LLC?

According to Crave's 2025 Franchise Disclosure Document, the auditor is required to be independent of Crave Franchising, LLC and to meet other ethical responsibilities in accordance with relevant ethical requirements relating to their audits. This requirement ensures that the auditor's opinion on the financial statements is unbiased and objective. The auditor's responsibilities are further detailed in the 'Auditor's Responsibilities for the Audit of the Financial Statements' section of their report.

In fulfilling their responsibilities, the auditor must obtain sufficient and appropriate audit evidence to provide a basis for their opinion. This evidence is gathered through various auditing procedures and helps the auditor to form a well-supported conclusion about the fairness of the financial statements. The auditor's opinion confirms whether the financial statements present fairly the financial position, results of operations, and cash flows of Crave in accordance with accounting principles generally accepted in the United States of America.

For a prospective franchisee, this independence is a crucial aspect of the audit process. It provides assurance that the financial information presented by Crave has been examined by an impartial third party. This helps in making informed decisions about investing in a Crave franchise, as it reduces the risk of relying on potentially biased financial data. The audit report, along with the financial statements, offers a level of confidence in the financial health and stability of the franchise system.