Are there any qualifications or disclaimers in the auditor's opinion for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer 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, 2023, and the related statements of operations, changes in stockholder's 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 the Company as of December 31, 2023, 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 ("U.S. GAAP").
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America ("GAAS"). 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 audit. 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 o
Source: Item 21 — Financial Statements (FDD pages 49–50)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling FDD, the auditor's report for the financial statement ending December 31, 2023, issued by Sky Accountancy Corporation, does not contain any qualifications or disclaimers. The report expresses an unqualified opinion that the financial statements present fairly, in all material respects, the financial position of Afuri Franchise, Inc.
The auditor states that the audit was conducted following generally accepted auditing standards in the United States of America (GAAS). These standards require the auditor to be independent and fulfill ethical responsibilities. The auditor believes the evidence obtained was sufficient and appropriate to form a basis for the audit opinion.
Management is responsible for the financial statements' preparation and fair presentation, including internal controls. The auditor's report does not include an opinion on the effectiveness of the company's internal control. The auditor also assesses whether there are conditions 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.