With whom is the auditor required to communicate regarding the audit of Crave Cookies?
Crave_Cookies 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, the auditor is required to communicate with those charged with governance. This communication includes the planned scope and timing of the audit, any significant findings discovered during the audit, and certain matters related to internal control that were identified during the auditing process.
For a prospective Crave Cookies franchisee, this indicates that the financial statements have been reviewed by an independent party, and that the auditor has a responsibility to communicate important information to those overseeing the company. This process helps ensure transparency and accountability in the financial reporting of Crave Cookies.
This communication helps to ensure that those in charge of governing Crave Cookies are well-informed about the financial health and internal controls of the company. Franchisees can take comfort in knowing that an independent auditor is keeping those charged with governance aware of any potential issues.