Are the Christian Brothers Automotive financial statements attached to the disclosure document?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
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 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
Yes, according to the 2025 Franchise Disclosure Document, Christian Brothers Automotive includes audited consolidated financial statements. Specifically, the document includes consolidated balance sheets as of December 31, 2024 and 2023, along with related consolidated statements of income, changes in shareholders' equity, and cash flows for the years then ended. These statements also include related notes.
The inclusion of these audited financial statements provides prospective Christian Brothers Automotive franchisees with insight into the financial health and performance of the company. The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). An independent auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Christian Brothers Automotive.
Management is responsible for the preparation and fair presentation of these consolidated financial statements, including the design, implementation, and maintenance of internal controls. The auditor's responsibility is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditor's report including their opinion. This helps ensure transparency and reliability for potential investors and franchisees.