Who is the independent accountant that compiled Bhc's financial statements?
Bhc Franchise · 2025 FDDAnswer from 2025 FDD Document
CHI & NAM LLP, CERTIFIED PUBLIC ACCOUNTANTS 3731 WILSHIRE BLVD., STE 777 LOS ANGELES, CA 90010
PHONE: 213-381-3239 FAX: 213-381-5152
INDEPENDENT AUDITOR REPORT
To the Member and Management BHC USA LLC and Subsidiaries
Opinion
We have audited the accompanying consolidated financial statements of BHC USA LLC (a California Limited Liability Company) and its subsidiaries, which comprise the consolidated balance sheet as of December 31, 2024, and the consolidated related statem , and cash flows for the year then ended, and the related notes to the consolidated financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of BHC USA LLC and subsidiaries as of December 31, 2024, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Financial Statements section of our report. We are required to be independent of BHC USA LLC and subsidiaries 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 audit opinion.
Source: Item 21 — Financial Statements (FDD page 52)
What This Means (2025 FDD)
According to Bhc's 2025 Franchise Disclosure Document, the independent auditor for Bhc USA LLC and subsidiaries is CHI & NAM LLP, Certified Public Accountants, located in Los Angeles, CA. CHI & NAM LLP audited the consolidated financial statements of Bhc USA LLC as of December 31, 2024. Their audit included the consolidated balance sheet, related statements, and cash flows for the year then ended, along with related notes.
CHI & NAM LLP issued an opinion stating that the financial statements present fairly the financial position of Bhc USA LLC and its subsidiaries as of December 31, 2024, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America. The audit was conducted following auditing standards generally accepted in the United States of America, requiring independence and adherence to ethical responsibilities.
The firm's responsibilities included obtaining reasonable assurance that the financial statements were free from material misstatement, assessing risks, and evaluating accounting policies and estimates made by Bhc's management. They also had to evaluate whether there were conditions or events that raised substantial doubt about Bhc's ability to continue as a going concern within one year after the financial statements were issued. This information is crucial for prospective franchisees as it provides transparency regarding the financial oversight and reporting of Bhc.