Who reviews the statement of operations of the Golden Corral National Fund?

According to the 2025 Golden Corral FDD, an independent certified public accountant selected by Golden Corral will review the statement of operations of the National Fund annually. This statement, maintained by Golden Corral, will be available to franchisees upon reasonable notice.

This arrangement ensures some level of independent oversight of the National Fund's financial activities. While Golden Corral selects the CPA, the review provides a check on how the fund is managed and spent. Franchisees have the right to access this statement, allowing them to monitor the fund's operations and expenditures.

It's important for prospective franchisees to understand that while they can access the statement of operations, the CPA's role is limited to a review, not a full audit. A review provides less assurance than an audit. Franchisees should also note that Golden Corral selects the CPA, which could present a potential conflict of interest, even though the CPA is supposed to be independent. Franchisees may want to inquire about the CPA's qualifications and the scope of their review to better understand the level of scrutiny applied to the National Fund's financials.

This practice is fairly common in franchising, where advertising funds are often subject to review or audit. However, the specific level of assurance and the selection process for the reviewer can vary. Franchisees should carefully consider these factors when evaluating the overall transparency and accountability of the advertising fund.