Are the financial statements for Aira Fitness audited?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Responsibilities of Management for the Financial Statements
Management 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, and 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.
Source: Item 21 — **FINANCIAL STATEMENTS (FDD pages 58–59)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the company's financial statements have been audited by an independent accountant. The FDD includes an Independent Accountant Audit Report covering the balance sheets as of December 31, 2024, December 31, 2023, and December 31, 2022, along with related profit and loss statements, statements of cash flows, statements of shareholders' equity, and notes for the twelve-month periods then ended.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). According to the report, the independent accountant believes that the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion. The accountant's opinion is that the financial statements present fairly, in all material respects, the financial position of Aira Fitness Franchising LLC as of the specified dates, 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.
The report also outlines management's responsibilities for the financial statements, which include 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 indicates that Aira Fitness has taken steps to ensure the accuracy and reliability of its financial reporting.