Who is the auditor for C12 Group's financial statements?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Report on Supplementary Information
Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The consolidating balance sheet, consolidating statement of operations and members' capital, and the condensed consolidated statements of operations and members' capital on pages 11 through 13, respectively, are presented for purposes of additional analysis and is not a required part of the consolidated financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements. The information for the year ended December 31, 2022 has been subjected to the auditing procedures applied in the audit of the 2021 consolidated financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information for the year ended December 31, 2022 is fairly stated in all material respects in relation to the 2022 consolidated financial statements as a whole. The comparative information for the years ended December 31, 2018 through 2021 has been derived from The C12 Group, LLC's 2018 through 2021 financial statements of which an unmodified opinion was expressed on those financial statements.
Schriver, Carmona & Company, PLLC
San Antonio, Texas March 15, 2023
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 C12 Group Franchise Disclosure Document, the independent auditor for the financial statements is Schriver, Carmona & Company, PLLC. Their report, included in the FDD, covers the consolidated balance sheets as of December 31, 2022, and 2021, along with the related consolidated statements of operations and members' capital, and cash flows for those years. The auditor's opinion states that these financial statements present fairly the financial position of The C12 Group, LLC and its subsidiary as of December 31, 2022 and 2021. Schriver, Carmona & Company, PLLC is located in San Antonio, Texas. They are members of the AICPA & TXCPA and are registered with the Public Company Accounting Oversight Board.
The inclusion of an independent auditor's report is a standard practice in franchise FDDs to provide potential franchisees with an unbiased opinion on the franchisor's financial health. This report helps prospective franchisees assess the financial stability and performance of C12 Group before making an investment decision. The auditor's responsibilities include conducting audits in accordance with generally accepted auditing standards, assessing the risks of material misstatement, and evaluating the appropriateness of accounting policies.
Prospective franchisees should carefully review the auditor's report and the accompanying financial statements to understand C12 Group's financial condition. They may also want to consult with a financial advisor to discuss the implications of the financial statements and the auditor's opinion. Understanding the auditor's role and findings is a crucial part of due diligence when considering a franchise investment.