Since when has Ernst & Young LLP served as the auditor for Noodles & Company?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
/s/ Ernst & Young LLP
We have served as the Company's auditor since 2009. Denver, Colorado March 7, 2025
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to the 2025 Noodles & Company Franchise Disclosure Document, Ernst & Young LLP has served as the company's auditor since 2009. Their report is based on audits of the consolidated financial statements, including balance sheets, statements of operations, and cash flows. The audit conducted by Ernst & Young LLP adheres to the standards set by the Public Company Accounting Oversight Board (PCAOB).
Ernst & Young's responsibilities include expressing an opinion on the fairness of the financial statements, based on their audits. These audits are planned and performed to provide reasonable assurance that the financial statements are free of material misstatement. As part of the audit process, Ernst & Young obtains an understanding of internal control over financial reporting, though they do not express an opinion on its effectiveness.
The auditor's address is in Denver, Colorado, as of March 7, 2025. This indicates that Ernst & Young LLP has been providing consistent oversight of Noodles & Company's financial reporting for an extended period, which can be a positive indicator for prospective franchisees, suggesting a level of stability and scrutiny in the company's financial practices.