Who is the audit report for Chocolate Fish Coffee addressed to?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
INDEPENDENT ACCOUNTANT AUDIT REPORT
To the Management of CHOCOLATE FISH FRANCHISING LLC
Opinion
We have audited the financial statements of CHOCOLATE FISH FRANCHISING LLC (the "Company"), which comprise the Balance Sheet as of December 31, 2023, and the related notes for the period then ended. (collectively referred to as the "financial statements").
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, the independent accountant's audit report for Chocolate Fish Coffee Franchising LLC is addressed to the company's management. Specifically, the audit assesses the balance sheet as of December 31, 2023, and related notes.
This indicates that the audit is intended for internal use by Chocolate Fish Coffee's leadership to ensure the accuracy and reliability of their financial reporting. The audit provides an opinion on whether the financial statements fairly represent the company's financial position and operations in accordance with generally accepted accounting principles.
Prospective franchisees should understand that this audit report is primarily a tool for Chocolate Fish Coffee's management. While it offers some assurance of financial transparency, franchisees may want to conduct their own due diligence and possibly seek independent financial advice to fully evaluate the financial health of the franchisor.