Are the Beehive Homes financial statements independently audited?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 21: FINANCIAL STATEMENTS]
ITEM 21. FINANCIAL STATEMENTS
Attached to this Franchise Disclosure Document as Exhibit C are the Bee Hive Homes, Inc. audited financial statements for the years ended December 31, 2024, 2023 and 2022
[Item 23: RECEIPTS]
INDEPENDENT AUDITORS' REPORT
To the Shareholder Bee Hive Homes, Inc. Boise, Idaho
Opinion
We have audited the financial statements of Bee Hive Homes, Inc. (an S corporation), which comprise the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of income, changes in shareholder's deficit, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Bee Hive Homes, Inc. as of December 31, 2024, 2023, and 2022, 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 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 Bee Hive Homes, Inc. 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the company's financial statements are indeed independently audited. Item 21 and Exhibit C of the FDD contain the audited financial statements for the years ending December 31, 2024, 2023, and 2022.
The independent auditor's report included in Item 23 states that Harrie CPAs P.C. conducted the audit in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's opinion is that the financial statements present fairly the financial position of Bee Hive Homes, Inc. as of December 31, 2024, 2023, and 2022, 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.
For a prospective Beehive Homes franchisee, this independent audit provides a level of assurance regarding the accuracy and reliability of the financial information presented. It signifies that an independent accounting firm has reviewed Beehive Homes' financial records and has expressed an opinion that they are fairly presented in accordance with established accounting principles. This can help a potential franchisee make a more informed decision about investing in the franchise.