Is Aerus required to provide an audited statement of the System Media Fund's operations?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
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- The System Media Fund is not and will not be used for ordinary operating expenses of our company, and it is not a trust. We do not assume any fiduciary obligation to you or any other franchisee for maintaining, directing, or administering the System Media Fund or for any other reason. We will prepare annually a statement of the operations of the System Media Fund as shown on the books of the System Media Fund, and will make it available to you on an annual basis, upon written request. This annual statement is not required to be audited, but we may choose to provide an audited statement.
Source: Item 11 — Franchisor's Assistance, Advertising, Computer Systems, and Training (FDD pages 36–43)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, Aerus is not required to provide an audited statement of the System Media Fund's operations. However, Aerus will prepare an annual statement of the fund's operations as shown on the books, and will make it available to franchisees upon written request.
While an audit is not mandatory, Aerus retains the option to provide an audited statement if they choose. This flexibility allows Aerus to manage the System Media Fund's reporting in a way they deem most appropriate.
As a prospective franchisee, it's important to understand that the annual statement is based on Aerus's internal bookkeeping and is not subject to the scrutiny of an independent audit unless Aerus decides otherwise. Franchisees who want a higher level of assurance regarding the System Media Fund's financial activities may want to discuss the possibility of an audit with Aerus.