Who is the auditing firm for Golden Krust Caribbean Restaurant?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
CliftonLarsonAllen LLP CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Shareholders Golden Krust Franchising, Inc. White Plains, New York
Opinion
We have audited the accompanying consolidated financial statements of Golden Krust Franchising, Inc., which comprise the consolidated balance sheets as of December 31, 2023 and 2022, and the related consolidated statements of operations, changes in shareholders' deficit, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Golden Krust Franchising, Inc. as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Golden Krust Franchising, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, the independent auditing firm for Golden Krust Caribbean Restaurant is CliftonLarsonAllen LLP. Their report, included in the FDD, covers the consolidated financial statements of Golden Krust Franchising, Inc. for the years 2023 and 2022. CliftonLarsonAllen LLP issued their report from Livingston, New Jersey on February 29, 2024.
CliftonLarsonAllen LLP states that they conducted their audits in accordance with generally accepted auditing standards in the United States of America. Their responsibilities include exercising professional judgment, assessing risks of material misstatement, understanding internal control, evaluating accounting policies, and concluding on Golden Krust Franchising, Inc.'s ability to continue as a going concern.
Prospective franchisees should note that the auditor's report provides an independent opinion on the fairness of Golden Krust Caribbean Restaurant's financial statements. Reviewing the auditor's report and the financial statements themselves can provide valuable insights into the financial health and stability of the franchise system. Franchisees may want to discuss the auditor's findings with a financial advisor.