Are the financial statements for All States M.E.D. certified?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
Financial Statements
December 31, 2023
(With Independent Auditors' Report Thereon)
SMITH, BUZZI & ASSOCIATES, LLC.
CERTIFIED PUBLIC ACCOUNTANTS 9425 SUNSET DRIVE, SUITE 180 MIAMI, FLORIDA 33173 TEL. (305) 598-6701 FAX (305) 598-6716
JULIO M. BUZZI, C.P.A. MEMBERS:
JOSE E. SMITH, C.P.A. AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITORS' REPORT
To the Members of All States M.E.D. Franchising, LLC.
Report on the Financial Statements
We have audited the financial statements of All States M.E.D. Franchising, LLC., which comprise the balance sheet as of December 31, 2023 and the related statements of operations and members' equity and cash flows for the period from July 11, 2023 ("Commencement of operations") to December 31, 2023 and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position All States M.E.D. Franchising, LLC. as of December 31, 2023, and the results of its operations and its cash flows for the period 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 Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of All States M.E.D. Franchising, LLC. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 43–44)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, the company includes financial statements with an independent auditor's report. The report states that Smith, Buzzi & Associates, LLC, Certified Public Accountants, audited the financial statements. This audit includes the balance sheet as of December 31, 2023, and the related statements of operations, members' equity, and cash flows for the period from July 11, 2023 (commencement of operations) to December 31, 2023, along with related notes.
The Independent Auditors' Report indicates that the audit was conducted following generally accepted auditing standards in the United States of America (GAAS). The auditors' responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, and issuing an auditor's report that includes their opinion. The auditors also mention that they are required to be independent of All States M.E.D. Franchising, LLC and to meet ethical responsibilities related to the audit.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of All States M.E.D. as of December 31, 2023, and the results of its operations and its cash flows for the period then ended, in accordance with accounting principles generally accepted in the United States of America. This opinion provides a level of assurance to potential franchisees regarding the accuracy and reliability of the provided financial information.