Are there any unaudited financial statements included for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
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INDEPENDENT AUDITORS' REPORT
To the Stockholder Afuri Franchise, Inc.
We have audited the accompanying financial statements of Afuri Franchise, Inc., which comprise 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.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
Source: Item 21 — Financial Statements (FDD pages 49–50)
What This Means (2024 FDD)
According to the 2024 FDD, the financial statements of Afuri Ramen Dumpling have been audited by independent auditors. The presence of an independent auditor's report suggests that the financial statements have undergone a review and verification process to ensure they are presented fairly and in accordance with accounting principles generally accepted in the United States of America. This report covers the balance sheets as of December 31, 2021, and 2020, along with the related statements of operations, stockholder's equity, and cash flows for the years then ended, and the related notes to the financial statements.
The auditors' responsibility is to express an opinion on these financial statements based on their audit, which is conducted in accordance with auditing standards generally accepted in the United States of America. These standards require the auditors to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
The audit includes performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements, evaluating the appropriateness of accounting policies used, and assessing the reasonableness of significant accounting estimates made by management. The auditors' report indicates that they believe the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion.