What is the date of the auditor's report for Chatime Franchise LLC?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Member Chatime Franchise LLC
Opinion
We have audited the accompanying financial statements of Chatime Franchise LLC (a limited liability company) which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's equity (deficit) 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 Chatime Franchise 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.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Chatime Franchise LLC and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Chatime Franchise LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the Independent Auditor's Report covers the financial statements for the years ending December 31, 2024, and December 31, 2023. The report itself does not contain a specific issue date. The auditor, Citrin Cooperman, states their opinion that the financial statements fairly represent Chatime Franchise LLC's financial position as of those dates, in accordance with accounting principles generally accepted in the United States of America.
The auditor's report indicates that management is responsible for the preparation and fair presentation of the financial statements, including the design, implementation, and maintenance of internal controls. Management is also required to evaluate Chatime's ability to continue as a going concern within one year after the date the financial statements are available to be issued.
Prospective franchisees should note that while the auditor provides an opinion on the fairness of the financial statements, the FDD does not include the actual date the auditor signed off on the report. It is advisable for potential franchisees to request this information from Chatime to understand how current the audited financials are.