As of what date was the auditor's report for Cicis finalized?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
Member On Smile LLC and Combined Affiliate
Opinion
We have audited the combined financial statements of On Smile LLC and combined affiliate (collectively, the Company), which comprise the combined balance sheets as of December 31, 2024 and 2023, the related combined statements of income, changes in members' capital and cash flows for the years then ended, and the related notes to the combined financial statements (collectively, the financial statements).
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, 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.
Basis for Opinion
We conducted our audits 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.
Responsibilities of Management for the Financial Statements
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the independent auditor's report included in the financial statements covers the combined balance sheets as of December 31, 2024 and 2023. The report also includes the combined statements of income, changes in members' capital, and cash flows for the years then ended, along with related notes. The auditor's opinion states that the financial statements present fairly the financial position of On Smile LLC and its combined affiliate as of December 31, 2024 and 2023, and the results of their operations and cash flows for those years, in accordance with accounting principles generally accepted in the United States of America.
This means that the auditor has reviewed Cicis's financial records for the past two fiscal years and has provided an opinion on their accuracy and compliance with standard accounting practices. The audit was conducted according to auditing standards generally accepted in the United States of America (GAAS), ensuring that the auditor is independent and meets ethical responsibilities. The auditor believes that the evidence obtained during the audit is sufficient and appropriate to support their opinion.
For a prospective Cicis franchisee, this independent audit provides a level of assurance regarding the financial health and stability of the company. It confirms that the financial statements have been prepared in accordance with established accounting principles and have been reviewed by an independent third party. This can help franchisees make informed decisions about investing in a Cicis franchise, as they can rely on the audited financial statements to assess the company's financial performance and position.