What ethical responsibilities are the auditors of Aira Fitness required to meet?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
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 the 2025 Aira Fitness Franchise Disclosure Document, the auditors must adhere to specific ethical responsibilities. The audit was conducted following auditing standards generally accepted in the United States of America (GAAS). As part of these standards, the auditors are obligated to be independent of Aira Fitness Franchising LLC and to fulfill other ethical requirements relevant to their audits. These requirements are in place to ensure the integrity and objectivity of the audit process.
The auditors' primary responsibility is to provide an opinion on whether the financial statements of Aira Fitness Franchising LLC present fairly, in all material respects, the company's financial position, results of operations, and cash flows in accordance with accounting principles generally accepted in the United States of America. This opinion is based on the audit evidence obtained, which the auditors must believe is sufficient and appropriate to provide a sound basis for their opinion.
Management of Aira Fitness Franchising LLC is responsible for the preparation and fair presentation of the financial statements, as well as for designing, implementing, and maintaining internal controls relevant to the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The auditors' role is to assess these internal controls and to ensure that the financial statements accurately reflect the company's financial performance and position. The auditors must maintain independence and adhere to ethical standards to ensure that their audit is unbiased and reliable.