What is the auditor's objective regarding Aira Fitness's financial statements?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 348-2421 omar@napercpa.com
INDEPENDENT ACCOUNTANT AUDIT REPORT
To the Management of AIRA FITNESS FRANCHISING LLC
Opinion
We have audited the financial statements of AIRA FITNESS FRANCHISING LLC (the "Company"), which comprise the Balance Sheet as of December 31, 2024 & December 31, 2023 & December 31, 2022, the related Profit & Loss Statements, the related Statements of Cashflows, the related Statements of Shareholders' Equity, and the related notes for the twelve-month periods then ended. (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 & December 31, 2023 & December 31, 2022, and the results of its operations and its cash flows for the twelve-month periods then ended in accordance with accounting principles generally accepted in the United States of America.
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 audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the auditor's objective is to express an opinion on whether the company's financial statements present fairly, in all material respects, the financial position of Aira Fitness. This includes the balance sheets as of December 31, 2024, December 31, 2023, and December 31, 2022, as well as the related profit and loss statements, statements of cash flows, statements of shareholders' equity, and related notes for the twelve-month periods then ended. The auditor's opinion confirms whether these statements are in accordance with accounting principles generally accepted in the United States of America.
The auditor conducts the audit in accordance with auditing standards generally accepted in the United States of America (GAAS). These standards require the auditor to be independent of Aira Fitness and to meet ethical responsibilities. The auditor's responsibilities include describing the responsibilities for the audit of the financial statements section of their report. The auditor must obtain sufficient and appropriate audit evidence to provide a basis for their opinion.
Management of Aira Fitness 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. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free of material misstatement, whether due to fraud or error. This responsibility highlights the importance of accurate record-keeping and internal controls within Aira Fitness's financial operations.