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Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of
Shake Shack Inc.
We have audited the accompanying consolidated balance sheets of Shake Shack Inc. as of December 30, 2015 and December 31, 2014, and the related
consolidated statements of income (loss), comprehensive income, stockholders' and members’ equity and cash flows for each of the three years in the period ended
December 30, 2015. Our audits also included the financial statement schedules listed in the Index at Item 15(a). These financial statements and schedules are the
responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to
perform an audit of the Company’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis
for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s
internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Shake Shack Inc. at
December 30, 2015 and December 31, 2014, and the consolidated results of its operations and its cash flows for each of the three years in the period ended
December 30, 2015, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related financial statement schedules, when
considered in relation to the basic financial statements taken as a whole, present fairly in all material respects the information set forth therein.
New York, New York
March 30, 2016
69 | Shake Shack Inc. Form 10-K