What was the date of the audit opinion for Christian Brothers Automotive's consolidated financial statements?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Board of Directors of Christian Brothers Automotive Corporation
Opinion
We have audited the consolidated financial statements of Christian Brothers Automotive Corporation, which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income, changes in shareholders' equity and cash flows for the years then ended, 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 Christian Brothers Automotive Corporation as of December 31, 2024 and 2023, and the results of their operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the audit opinion for the consolidated financial statements is related to the balance sheets as of December 31, 2024 and 2023, and the statements of income, changes in shareholders' equity, and cash flows for the years then ended. The report indicates that the financial statements present fairly the financial position of Christian Brothers Automotive Corporation as of December 31, 2024 and 2023. The provided excerpt does not specify the exact date the audit opinion was issued.
It is standard practice for the audit opinion to be issued sometime after the close of the fiscal year, once the auditors have completed their review and are satisfied with the accuracy and fairness of the financial statements. The audit assesses whether the financial statements conform with generally accepted accounting principles.
A prospective Christian Brothers Automotive franchisee should ask the franchisor for the specific date of the independent auditor's report to understand the timeline of the financial review. This information is crucial for assessing the timeliness and relevance of the financial data presented in the FDD.