Are there any qualifications or exceptions in the auditor's report for C12 Group?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors The C12 Group, LLC San Antonio, Texas
Opinion
We have audited the accompanying financial statements of The C12 Group, LLC (the Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations, changes in members' equity, and cash flows for the years then ended, 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 The C12 Group, LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the independent auditor's report for the financial statements as of December 31, 2024 and 2023, states that the financial statements present fairly, in all material respects, the financial position of The C12 Group, LLC. This indicates an unqualified or "clean" opinion. A similar opinion was issued for the 2022 and 2021 financial statements.
The auditor's report confirms that the audit was conducted following generally accepted auditing standards in the United States of America. These standards require the auditor to be independent and to meet ethical responsibilities. The auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for the audit opinion.
The report also details the responsibilities of C12 Group's management in preparing the financial statements, including ensuring they are free from material misstatement and evaluating the company's ability to continue as a going concern. The auditor's responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement and issuing a report that includes their opinion.