What does the auditor evaluate regarding accounting policies used by Batteries Plus Bulbs?
Batteries_Plus_Bulbs Franchise · 2025 FDDAnswer from 2025 FDD Document
Milwaukee, WI 53202
D +1 414 289 8200 F +1 414 289 9910
GRANT THORNTON LLP REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Board of Directors and Stakeholders Batteries Plus, LLC and Subsidiaries
Opinion
We have audited the consolidated financial statements of Batteries Plus, LLC (a Wisconsin Limited Liability Corporation) and Subsidiaries (the "Company"), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of net income, comprehensive income, member's equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company 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 of the consolidated financial statements in accordance with auditing standards generally accepted in the United States of America (US 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.
Responsibilities of management for the financial statements
Management is responsible for the preparation and fair presentation of the consolidated 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 consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 21 — Financial Statements (FDD pages 79–80)
What This Means (2025 FDD)
According to Batteries Plus Bulbs's 2025 Franchise Disclosure Document, the auditor, Grant Thornton LLP, assesses whether the consolidated financial statements are presented fairly and in accordance with accounting principles generally accepted in the United States of America. This assessment includes evaluating the financial position of Batteries Plus, LLC as of December 31, 2024 and 2023, along with the results of its operations and cash flows for the years then ended.
The auditor's responsibilities include conducting audits in accordance with auditing standards generally accepted in the United States of America (US GAAS). They are required to be independent of the company and meet ethical responsibilities related to the audits. The auditor must obtain sufficient and appropriate audit evidence to provide a basis for their opinion.
Management at Batteries Plus Bulbs is responsible for preparing and fairly presenting the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America. This includes designing, implementing, and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Management must also evaluate whether there are conditions or events that raise substantial doubt about the company's ability to continue as a going concern for one year after the financial statements are issued.