Are the balance sheets included in the Aunt Millies Bakeries FDD audited?

According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the financial statements included in Exhibit I are audited. Specifically, the exhibit contains the audited consolidated balance sheets of Perfection Bakeries, Inc. as of September 30, 2024 and 2023, and September 30, 2023 and 2022. The exhibit also includes the related consolidated statements of income and/or operations, comprehensive income and/or loss and cash flows for the years then ended, and the related notes to the financial statements.

An independent auditor's report is included, containing the opinion that the consolidated financial statements present fairly, in all material respects, the financial position of Perfection Bakeries, Inc. as of September 30, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

The inclusion of audited financial statements is a standard practice in franchising, as it provides potential franchisees with an added level of assurance regarding the financial health and stability of the franchisor. This allows prospective Aunt Millies Bakeries franchisees to make a more informed investment decision.