The Competition and Consumer (Industry Code – Franchising) Regulation 2014 takes over from the Franchising Code 1998 and relates to requirements and obligations that arise regarding franchising after 1 January 2015. Under the new code Master Franchisors are required to have audits conducted related to their solvency – under Annexure of the Code, Section 21.5 states that for franchisors to be able to sell their entity as a franchise when they have not been operating for more than two years, they are required to submit an audit report on their solvency as part of set up process.
This is where CB Audit is able to help with the process. With over 20 years’ experience conducting audits, CB Audit understands your requirements and is able to assist in the process of becoming a master franchisor. We have streamlined the process to ensure the issue of the audit report on solvency and the collection of the other documentation is as painless a process as possible. We will also be able to assist you on an ongoing basis with your financial audit requirements in subsequent years.
Please contact us if you would like to talk to one of our friendly team regarding the audit of your franchise entity.