What ethical responsibilities are the auditors of Goldfish Swim School required to meet?

According to the 2025 Goldfish Swim School Franchise Disclosure Document, the auditors must adhere to specific ethical responsibilities. The auditors are required to be independent of Goldfish Swim School and must meet their ethical responsibilities in accordance with the relevant ethical requirements pertaining to their audits. This ensures that the audit is conducted without bias or conflicts of interest, maintaining the integrity of the financial review.

This requirement is based on auditing standards generally accepted in the United States of America (GAAS). These standards dictate that auditors must maintain independence to provide an unbiased opinion on the financial statements. Independence means that the auditors should have no financial, personal, or professional relationships with Goldfish Swim School that could compromise their objectivity.

For a prospective Goldfish Swim School franchisee, this signifies that the financial statements presented in the FDD have been reviewed by an independent party who is ethically bound to provide an unbiased assessment. This helps in making an informed decision about investing in a Goldfish Swim School franchise, as the franchisee can have more confidence in the accuracy and reliability of the financial information provided.

The auditor's report also states that they believe the audit evidence they have obtained is sufficient and appropriate to provide a basis for their audit opinion. This indicates that the auditors have gathered enough relevant and reliable data to support their conclusions about the fairness of the financial statements.