With whom are the auditors required to communicate regarding the audit 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 auditors are required to communicate with those charged with governance. This communication includes the planned scope and timing of the audit, any significant findings, and certain internal control-related matters identified during the audit.
For a prospective HealthSource Chiropractic franchisee, this indicates that the company's financial audits involve a layer of oversight. "Those charged with governance" typically refers to a body like a board of directors or an audit committee, which has responsibility for overseeing the strategic direction of the entity and obligations related to accountability.
This communication ensures that key stakeholders are informed about the audit process, its results, and any weaknesses in internal controls that could affect financial reporting. This requirement promotes transparency and accountability in HealthSource Chiropractic's financial practices.