What is the auditor's responsibility regarding the planned scope and timing of the audit of iTan?

According to Itan'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. The auditor must also communicate significant audit findings and certain internal control related matters identified during the audit.

This communication ensures transparency and provides an opportunity for those overseeing Itan to understand the audit process, key findings, and any weaknesses in internal controls. This allows for informed decision-making and proactive measures to address any identified issues.

For a prospective Itan franchisee, this indicates that the franchisor's financial statements are subject to a thorough and independent review. The communication requirement ensures that any significant issues identified during the audit are brought to the attention of those in charge, promoting accountability and potentially mitigating risks.