According to the opinion, which entity's financial statements were audited for Aw?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Members of Rayyan Pizza Franchise LLC
Opinion
We have audited the financial statements of Rayyan Pizza Franchise LLC which comprises the balance sheets as of December 31, 2024 and 2023, the related statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Rayyan Pizza Franchise LLC as of December 31, 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.
Basis for Opinion
We conducted our audits 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 Rayyan Pizza Franchise LLC, 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 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the financial statements of Rayyan Pizza Franchise LLC were audited. The Independent Auditor's Report states that Muhammad Zubairy, CPA PC, audited the balance sheets as of December 31, 2024 and 2023, along with the related statements of operations, changes in members' equity, and cash flows for the years then ended, including the related notes to the financial statements.
The auditor's opinion is that these financial statements present fairly, in all material respects, the financial position of Rayyan Pizza Franchise LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended. This opinion is in accordance with accounting principles generally accepted in the United States of America.
The audit was conducted following auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities under these standards are detailed in the report. The auditor confirmed their independence from Rayyan Pizza Franchise LLC and their adherence to ethical requirements. The auditor believes the audit evidence obtained is sufficient and appropriate to support the audit opinion.