On what date was the auditor's report for Bombs Away issued?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through February 8, 2024, the date on which the financial statements were available to be issued. Management has determined that none of the events occurring after the date of the balance sheet through the date of Management's review substantially affect the amounts and disclosure of the accompanying financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the auditor's report related to the financial statements for the year ending December 31, 2023, was issued on February 8, 2024. This date is significant because it represents the point in time through which management evaluated subsequent events that could impact the financial statements.
Specifically, Bombs Away's management assessed events occurring after the balance sheet date (December 31, 2023) up to February 8, 2024, to determine if any of these events would substantially affect the reported amounts or disclosures in the financial statements. Their review concluded that no such events required adjustment or additional disclosure.
This date is important for prospective franchisees as it provides a timeframe for understanding the currency and reliability of the financial information presented. The auditor's report, in conjunction with the management's evaluation of subsequent events, offers assurance that the financial statements reflect the most up-to-date information available at the time of issuance.