Are the financial statements for Bambu unaudited?
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 audited. The FDD includes an Independent Auditor's Report. This report states that an audit of Bambu Franchising, LLC's financial statements was conducted, which includes the balance sheets 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, along with related notes.
The auditor's opinion is that the financial statements present fairly Bambu's financial position as of December 31, 2024, and 2023, and the results of its operations and 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 responsibilities under those standards include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error. The auditor is also required to be independent of Bambu and to meet ethical responsibilities. The audit evidence obtained was considered sufficient and appropriate to provide a basis for the audit opinion.
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.