Does the Bombs Away Franchise Disclosure Document include audited financial statements?

According to the 2024 Bombs Away Franchise Disclosure Document, the company includes audited financial statements. Specifically, Bombs Away includes audited financial statements dated December 31, 2023, and an opening balance sheet dated December 31, 2022, in Exhibit C. The inclusion of these audited financial statements provides prospective franchisees with an overview of the franchisor's financial health.

The audit report for the December 31, 2023, financial statements includes a Balance Sheet, Profit & Loss Statement, Statement of Cashflows, Statement of Shareholders' Equity, and related notes. The auditor, in their opinion, states that these financial statements present fairly the financial position of Bombs Away as of December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.

The inclusion of an independent accountant's audit report indicates that a qualified professional has examined Bombs Away's financial statements and provided an opinion on their fairness and accuracy. This audit is conducted in accordance with auditing standards generally accepted in the United States of America, involving procedures to obtain reasonable assurance that the financial statements are free from material misstatement. This process includes assessing risks, understanding internal controls, and evaluating accounting policies and estimates, offering potential Bombs Away franchisees a degree of confidence in the financial data presented.