Are Bambu's financial statements audited?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
To the Members Bambu Franchising, LLC Denver, Colorado
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of Bambu Franchising, LLC which comprise the balance sheet as of December 31, 2024, and 2023, and the related statements of operations, changes in members' ( deficit) and cash flows for the years ended December 31, 2024, 2023, and 2022, and the related notes to the financial statements.
In our opinion, the financial statements referred to in the first paragraph above present fairly, in all material respects, the financial position of Bambu Franchising, LLC as of December 31, 2024, and 2023 and the results of its operations and its cash flows for the years ended December 31, 2024, 2023, and 2022, 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 Bambu Franchising, 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.
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 from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Bambu Franchising, LLC's ability to continue as a going concern for one year after the date that the financial statements are issued.
Source: Item 21 — Financial Statements (FDD page 52)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, the company's financial statements are indeed audited. The FDD includes an Independent Auditor's Report, indicating that Reese CPA LLC audited the financial statements of Bambu Franchising, LLC. This audit covers the balance sheets as of December 31, 2024, and 2023, as well as the statements of operations, changes in members' deficit, and cash flows for the years ended December 31, 2024, 2023, and 2022.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Bambu Franchising, LLC as of December 31, 2024, and 2023, and the results of its operations and its cash flows for the years ended December 31, 2024, 2023, and 2022, in accordance with accounting principles generally accepted in the United States of America. The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's report also details the responsibilities of both Bambu's management and the auditor in relation to the financial statements.
For a potential franchisee, this means that an independent accounting firm has reviewed Bambu's financial records and provided an opinion on their accuracy and reliability. This can provide a higher level of confidence in the financial information presented in the FDD, as it has been vetted by an objective third party. The auditor, Reese CPA LLC, has also provided consent to the use of their report in the Franchise Disclosure Document issued by Bambu Franchising, LLC on March 31, 2025, relating to the financial statements of Franchisor for the period ending December 31, 2024.