What is the date of the auditor's report for Beehive Homes?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
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 but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS 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 are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS, we:
- Exercise professional judgment 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 Hive Homes, Inc.'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 judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Bee Hive Homes, Inc.'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.
Meridian, Idaho March 28, 2025
Harrie CPAs P.C.
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the auditor's report is dated March 28, 2025. This report is an independent assessment of Beehive Homes' financial statements, providing an opinion on whether the statements fairly represent the company's financial position as of December 31, 2024, 2023, and 2022. The audit also covers the statements of income, changes in shareholder's deficit, and cash flows for the years then ended.
The auditor, Harrie CPAs P.C., conducted the audit in accordance with generally accepted auditing standards in the United States of America (GAAS). These standards require the auditor to be independent and to meet ethical responsibilities. The auditor's responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error. This involves exercising professional judgment, assessing risks, and evaluating the appropriateness of accounting policies.
The audit report provides prospective franchisees with an added layer of confidence regarding the financial health and stability of Beehive Homes. It confirms that an independent firm has reviewed the company's financials and found them to be fairly presented. This is a standard practice in franchising, as it helps potential franchisees make informed decisions based on reliable financial information. The presence of an unqualified opinion suggests that the auditor has no significant concerns about the accuracy and completeness of the financial statements.