As of what date are the Body Brain Center's financial statements for 2023 audited?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
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 Body and Brain Center 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.
ABC CPAs Los Angeles, CA
February 7, 2023
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Body Brain Center's 2025 Franchise Disclosure Document, the financial statements for the years ended December 31, 2023, were audited as of February 7, 2023, by ABC CPAs located in Los Angeles, CA. This audit was conducted in accordance with generally accepted auditing standards (GAAS). The independent auditor's report, which includes their opinion on the financial statements, is included as part of the audit.
The auditor's responsibilities include exercising professional judgment and maintaining professional skepticism throughout the audit. They identify and assess the risks of material misstatement in the financial statements, whether due to fraud or error, and design audit procedures to respond to those risks. The audit involves examining evidence on a test basis regarding the amounts and disclosures in the financial statements.
Furthermore, the auditor obtains an understanding of internal control relevant to the audit to design appropriate procedures, but without expressing an opinion on the effectiveness of Body Brain Center's internal control. They evaluate the appropriateness of accounting policies used, the reasonableness of significant accounting estimates made by management, and the overall presentation of the financial statements. The auditor also considers whether there are conditions or events that raise substantial doubt about Body Brain Center's ability to continue as a going concern.