According to the opinion, what entity's financial statements were audited for Buona?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITORS' REPORT
To the Members Chicago's Original Italian Beef Franchising LLC Burr Ridge, Illinois 60527
Opinion
We have audited the accompanying financial statements of Chicago's Original Italian Beef Franchising LLC (the Company), which comprise the balance sheet as of December 29, 2024 and December 31, 2023, and the related statements of operations, changes in members' equity (deficit), and cash flows for the fiscal years ended December 29, 2024 and December 31, 2023, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Chicago's Original Italian Beef Franchising LLC as of December 29, 2024 and December 31, 2023, and the results of its operations and its cash flows for the fiscal years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements of Chicago's Original Italian Beef Franchising LLC were audited. The Independent Auditors' Report states that the audit encompassed the balance sheets as of December 29, 2024, and December 31, 2023, along with the related statements of operations, changes in members' equity (deficit), and cash flows for the fiscal years ending on those dates.
The auditor's opinion confirms that these financial statements fairly represent the financial position of Chicago's Original Italian Beef Franchising LLC in all material respects. This opinion is based on auditing standards generally accepted in the United States of America.
Prospective franchisees should understand that the audit provides an independent assessment of Buona's financial health. Reviewing these audited statements can offer insights into the company's financial stability and performance, which is a crucial aspect of evaluating the franchise opportunity.