Who is the auditor for the C3 Wellness Spa financial statements?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
The financial information was not prepared on a basis consistent with generally accepted accounting principles. Data for our Company Owned Outlets is based on information reported to us by our affiliate. During the 2023 Calendar Year we did not have any New Franchise Outlets or Operational Franchise Outlets. The information in this analysis has not been audited, is based on historical financial data and is not a forecast or projection of future financial performance.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2024 FDD)
The 2024 Franchise Disclosure Document for C3 Wellness Spa does not include the name of an auditor for the company's financial statements. Item 19 includes the statement that the financial information provided was not prepared on a basis consistent with generally accepted accounting principles. It also states that the information in the analysis has not been audited.
Because the financial data presented in Item 19 has not been audited, prospective franchisees should perform their own due diligence and consult with a financial advisor or accountant to fully understand the financial performance representations of C3 Wellness Spa. This is especially important considering the data is not based on generally accepted accounting principles.
To gain clarity, a potential franchisee should directly ask C3 Wellness Spa whether their financial statements have been audited by an independent certified public accountant (CPA). If audits have been performed, it would be prudent to request a copy of the audited financial statements and the auditor's opinion to assess the financial health and stability of the company.