Overview
Shake Shack Inc. (NYSE: SHAK) is a modern day “roadside” burger stand serving premium burgers, chicken sandwiches, hot dogs, fries, and shakes. The business originally started as a hot dog stand located in New York City’s Madison Square Park, and it has now grown to more than 240 locations in the United States and 125 international locations. Visit Shake Shack Inc.’s 2021 annual reportLinks to an external site.
Requirements
- Review the auditor’s report over internal controls (p. 84 of the annual report). Who was the audit firm and what did they have to say about the company’s internal controls?
- According to the audit report, what are the three items that Shake Shack Inc.’s internal controls include?