What is the auditor's opinion on the Chocolate Fish Coffee financial statements?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
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").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2023, and the results of its operations and its cash flows for the period ended December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). 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 the Company 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, the auditor, Omar Alnuaimi, CPA, of Naperville, IL, performed an audit of Chocolate Fish Coffee Franchising LLC's financial statements. The financial statements audited include the balance sheet as of December 31, 2023, and related notes for the period then ended.
The auditor's opinion is that the financial statements present fairly, in all material respects, the financial position of Chocolate Fish Coffee as of December 31, 2023. They also believe the financial statements accurately reflect the results of its operations and cash flows for the period ending December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
The audit was conducted following auditing standards generally accepted in the United States of America (GAAS). These standards require the auditor to be independent and meet ethical responsibilities. The auditor believes the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion. This opinion provides assurance to potential franchisees that Chocolate Fish Coffee's financial statements have been reviewed by an independent party and are presented fairly.