What is the auditor's objective when auditing Augusta Lawn Care's financial statements?
Augusta_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
FINANCIAL STATEMENTS**
| Description | Page |
|---|---|
| Independent Accountant Audit Report | 3-4 |
| Profit & Loss Statement | 5 |
| Balance Sheet | 6 |
| Statement of Cashflows | 7 |
| Statement of Shareholders' Equity | 8 |
| Notes to Accompanied Financial Statements | 9-12 |
924 W. 75th Street Suite 120 - 189 Naperville, IL 60565 +1 (815) 348-2421 omar@napercpa.com
INDEPENDENT ACCOUNTANT AUDIT REPORT
To the Management of AUGUSTA FRANCHISE LLC
Opinion
We have audited the financial statements of AUGUSTA FRANCHISE 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 44–184)
What This Means (2025 FDD)
According to Augusta Lawn Care'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 Augusta Franchise LLC as of December 31, 2024, December 31, 2023, and December 31, 2022. This includes assessing the results of its operations and cash flows for the twelve-month periods then ended, in accordance with accounting principles generally accepted in the United States of America.
The auditor's report indicates that the audit was conducted following auditing standards generally accepted in the United States of America (GAAS). These standards require the auditor to describe their responsibilities, remain independent of the company, and fulfill ethical responsibilities related to the audits. The auditor must obtain sufficient and appropriate audit evidence to provide a basis for their opinion.
Management is responsible for preparing and fairly presenting the financial statements according to accounting principles generally accepted in the United States of America. This includes designing, implementing, and maintaining internal controls relevant to preparing financial statements that are free from material misstatement, whether due to fraud or error. Management must also evaluate conditions or events that could raise substantial doubt about the company's ability to continue as a going concern for one year after the financial statements are issued.