factual

Who is the auditing firm for Afuri Ramen Dumpling?

Afuri_Ramen_Dumpling Franchise · 2024 FDD

Answer from 2024 FDD Document

SKY ACCOUNTANCY CORPORATION

INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Shareholder of Afuri Franchise, Inc.

Opinion

We have audited the accompanying financial statements of Afuri Franchise, Inc. (the "Company"), which comprise the balance sheet as of December 31, 2022, and the related statements of operations, changes in stockholder's equity, and cash flows for the year t

Source: Item 23 — Receipts (FDD pages 50–189)

What This Means (2024 FDD)

According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, the auditing firm for the company was SKY Accountancy Corporation for the years 2022 and 2023. Their report indicates they performed an audit of Afuri Franchise, Inc.'s financial statements, which include the balance sheet as of December 31, 2022 and 2023, and related statements of operations, changes in stockholder's equity, and cash flows for the years then ended. SKY Accountancy Corporation issued an opinion stating that the financial statements present fairly the financial position of Afuri Franchise, Inc. as of December 31, 2022 and 2023, in accordance with accounting principles generally accepted in the United States of America.

For the years 2020 and 2021, the auditing firm was VSH, PLLC. Their report included the balance sheets as of December 31, 2021 and 2020, and the related statements of operations and stockholder's equity and cash flows for the years then ended, and the related notes to the financial statements. VSH, PLLC issued an opinion that the financial statements presented fairly the financial position of Afuri Franchise, Inc. as of December 31, 2021 and 2020, 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.

It is important for a prospective franchisee to note the auditor of a franchise, as it provides an independent opinion on the financial health and reporting practices of the franchisor. Changes in auditors can sometimes signal changes in accounting practices or financial scrutiny, though in this case, it appears to be a routine change. A potential franchisee may want to inquire about the reason for the change in auditing firms and ensure that the financial statements are prepared in accordance with U.S. GAAP.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.