What is the auditor required to communicate regarding significant audit findings of Healthsource Chiropractic?
Healthsource_Chiropractic 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 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the auditor is required to communicate with those charged with governance regarding the planned scope and timing of the audit. This communication also includes significant audit findings. Furthermore, the auditor must communicate certain internal control-related matters identified during the audit.
This requirement ensures that those overseeing Healthsource Chiropractic's financial reporting are informed about the audit process, its key findings, and any weaknesses in internal controls. This transparency helps to maintain the integrity of the financial statements and provides an opportunity for corrective actions to be taken.
For a prospective franchisee, this indicates that Healthsource Chiropractic's financial audits are subject to scrutiny and that significant findings are communicated to the appropriate governing bodies. This can provide a level of assurance regarding the financial health and transparency of the franchise system.