With whom is the auditor required to communicate regarding the audit of Deck Medic?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 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 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 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. It also encompasses significant audit findings. Furthermore, the communication extends to certain internal control-related matters identified during the audit.
For a prospective Deck Medic franchisee, this indicates that the audit process involves transparency and communication with individuals or groups responsible for overseeing the company's direction and obligations. This governance structure ensures that important aspects of the audit, such as its scope, timing, and findings, are properly communicated and addressed.
This communication helps maintain the integrity of Deck Medic's financial reporting and internal controls. It also provides a mechanism for addressing any potential issues or concerns identified during the audit process. Franchisees can take assurance from this communication protocol, as it demonstrates a commitment to accountability and sound financial management within the Deck Medic franchise system.