What matters are the auditors required to communicate regarding the audit of iTan?
Itan 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 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to the 2025 FDD, iTan's auditors are required to communicate certain information to those charged with governance. This communication includes the planned scope and timing of the audit, ensuring that the audit process is transparent and understood by relevant parties.
In addition to the scope and timing, the auditors must also report any significant audit findings. This would include any material misstatements or irregularities discovered during the audit process.
Finally, the auditors are obligated to communicate certain internal control-related matters that they identify during the audit. This could involve weaknesses or deficiencies in iTan's internal controls that could impact the accuracy and reliability of financial reporting.