What date is the auditor's report for Chem Dry's consolidated financial statements?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the consolidated financial statements of BFG Holdco, Inc. and its subsidiaries (the "Company"), which comprise the consolidated balance sheet as of December 31, 2023, 2022, and 2021 and the related consolidated statements of operations, stockholders' equity, and cash flows for the years ended December 31, 2023, 2022, and 2021, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, 2022, and 2021 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.
As discussed in Note 3 to the consolidated financial statements, the 2022 financial statements have been restated to correct a misstatement. Our opinion is not modified with respect to this matter.
As discussed in Note 9 to the consolidated financial statements, the Company recognized an impairment loss to its goodwill balance during 2023. Our opinion is not modified with respect to this matter.
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the consolidated balance sheets in the auditor's report are as of December 31, 2023, 2022, and 2021. The report also includes the consolidated statements of operations, stockholders' equity, and cash flows for the years ended December 31, 2023, 2022, and 2021.
This means that the auditor has examined Chem Dry's financial records for these specific dates and has provided an opinion on their accuracy and fairness. Prospective franchisees can review these audited financial statements to gain insight into the company's financial health and performance over the past three years.
The auditor's opinion indicates that the financial statements present fairly the financial position of BFG Holdco, Inc. (Chem-Dry) in accordance with accounting principles generally accepted in the United States of America. However, the report also notes that the 2022 financial statements were restated to correct a misstatement, and the company recognized an impairment loss to its goodwill balance during 2023. These points are emphasized but do not modify the auditor's overall opinion.