Are the financial statements for Advanced Mobile Iv And Amiv audited?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
Independent Auditor's Report
To the Members Advanced Mobile IV, LLC St. George, Utah
Opinion
We have audited the accompanying financial statements of Advanced Mobile IV, LLC, which comprise the balance sheet as of December 31, 2022, and the related statements of operations, members' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Advanced Mobile IV, LLC as of December 31, 2022, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Auditor's Responsibilities for the Audit of the Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2023 FDD)
According to Advanced Mobile Iv And Amiv's 2023 Franchise Disclosure Document, the company's financial statements have been audited. The FDD includes an Independent Auditor's Report. This report expresses the auditor's opinion on the fairness of Advanced Mobile IV, LLC's financial position as of December 31, 2022, and the results of its operations and cash flows for the year then ended. The audit was conducted in accordance with generally accepted auditing standards in the United States of America.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Advanced Mobile IV, LLC as of December 31, 2022, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. This indicates that an independent audit firm has reviewed Advanced Mobile Iv And Amiv's financial statements and believes they are presented accurately and in compliance with accounting standards.
The report outlines the responsibilities of both the management and the auditor in relation to the financial statements. Management is responsible for preparing the financial statements and maintaining internal controls, while the auditor is responsible for expressing an opinion on the financial statements based on their audit. The auditor also has a responsibility to evaluate whether there are conditions or events that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
For a prospective franchisee, the inclusion of an audited financial statement provides a higher level of confidence in the financial information presented by Advanced Mobile Iv And Amiv. It suggests that the company's financials have been scrutinized by an independent expert, reducing the risk of material misstatements. This is a positive sign for potential investors as it demonstrates a commitment to transparency and financial accountability.