What is the name of the auditing company that performed the audit for Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
Accutax Bizsolutions LLC Certified Public Accountant
Kalispell, Montana
Date: May 7, 2025
BALANCE SHEET December 31, 2024, and 2023
ASSETS
[Item 21: FINANCIAL STATEMENTS]
ANIL MALHOTRA & CO. LTD.
CERTIFIED PUBLIC ACCOUNTANTS 419 EAST EUCLID AVENUE, MT PROSPECT, IL. 60056 TEL 847-873-1256; FAX 847-241-0034
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors
Best Brains Inc
135 East Algonquin Rd
Arlington Heights, IL
Opinion
We have audited the accompanying financial statements of Best Brains Inc (an Illinois corporation), which comprise the balance sheets as of December 31, 2023 and the related statements of income, retained earnings, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, two different auditing companies performed audits for the company. Accutax Bizsolutions LLC, located in Kalispell, Montana, performed the audit for the financial statements as of December 31, 2024, and 2023. Anil Malhotra & Co. LTD., located in Mt. Prospect, IL, performed the audit for the financial statements as of December 31, 2023.
It is common practice for franchisors to have their financial statements audited annually by an independent certified public accountant. The auditor's report, along with the financial statements, provides potential franchisees with an objective assessment of the franchisor's financial condition and performance. This information can help franchisees make informed decisions about whether to invest in the franchise.
A prospective Best Brains franchisee should carefully review the auditor's reports and financial statements to understand the company's financial health. They may also want to consult with a financial advisor to discuss the implications of the financial information for their investment decision. It's worth noting that having two different auditing companies in consecutive years is unusual, and a prospective franchisee may want to inquire with Best Brains as to why they switched auditors.