Are the financial statements for Bee Organized audited?
Bee_Organized Franchise · 2025 FDDAnswer from 2025 FDD Document
Statements of Income and Members' Equity | 4 | | Statements of Cash Flows | 5 | | Notes to Financial Statements | 6 -7 |
Karlin & Long, LLC Certified Public Accountants
To the Partners Bee Organized Enterprises, LLC 4227 W 104th Terr Overland Park, KS 66207
Opinion
We have audited the accompanying financial statements of Bee Organized Enterprises, LLC (a for profit organization), which comprise the statements of financial position as of December 31, 2024, 2023, and 2022 and the related statements of activities and cash flows for the years then ended, and the related notes to financial statements.
In our opinion, the financial statements referred to above present fairly, in all material aspects, the financial position of Bee Organized Enterprises, LLC as of December 31, 2024, 2023 and 2022 and the changes in its net assets and its cash flow for the years then ended in accordance with accounting principles generally accepted in the Unites States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. 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 Bee Organized Enterprises, LLC and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these 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 error or fraud.
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 Bee Organized Enterprises, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance and therefore is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgement made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgement and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Bee Organized Enterprises, LLC's internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that raise substantial doubt about Bee Organized Enterprises, LLC's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Bee Organized's 2025 Franchise Disclosure Document, the financial statements have been audited by Karlin & Long, LLC, Certified Public Accountants. The audit includes the statements of financial position as of December 31, 2024, 2023, and 2022, along with related statements of activities and cash flows for the years then ended, and notes to the financial statements.
The auditor's opinion states that the financial statements present fairly the financial position of Bee Organized Enterprises, LLC as of December 31, 2024, 2023 and 2022, and the changes in its net assets and cash flow for those years, in accordance with accounting principles generally accepted in the United States of America. The audit was conducted following generally accepted auditing standards in the United States of America, with the auditors confirming their independence and ethical responsibilities.
The management of Bee Organized is responsible for preparing and fairly presenting the financial statements, including internal controls to prevent material misstatements. They must also assess the company's ability to continue as a going concern. The auditor's responsibility is to provide reasonable assurance that the financial statements are free from material misstatement, issuing a report that includes their opinion. This assurance involves professional judgment, risk assessment, and examination of evidence, but it is not a guarantee against all misstatements, especially those resulting from fraud.
The audit report, signed by Karlin & Long, LLC, is dated January 24, 2025, from Lenexa, Kansas, indicating the completion date of the audit process. This independent audit provides potential franchisees with a higher level of confidence in the financial information presented by Bee Organized, as it has been reviewed and validated by an external accounting firm.