What is the date of the auditor's report for City Publications?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
The financial statements of CITY PUBLICATIONS FRANCHISE GROUP, INC. for the year ended December 31, 2022, were audited by another auditor who expressed an unmodified opinion on those statements on March 15, 2023.
Management has evaluated subsequent events through April 20, 2025, the date on which the financial statements were available to be issued.
Source: Item 23 — RECEIPT (FDD pages 39–129)
What This Means (2025 FDD)
According to City Publications' 2025 Franchise Disclosure Document, the financial statements for the year ended December 31, 2022, were audited by another auditor, who expressed an unmodified opinion on those statements on March 15, 2023. This indicates that a prospective franchisee can review the company's financial health through these audited statements.
The auditor's report confirms that the financial statements of City Publications fairly represent the company's financial position as of December 31, 2024, and 2023, and the results of its operations and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America. This provides assurance to potential franchisees regarding the reliability of the financial information presented.
Furthermore, management has evaluated subsequent events through April 20, 2025, which is the date the financial statements were available to be issued. This date is important because it signifies the period up to which City Publications considered events that could materially affect the company's financial position disclosed in the financial statements. A prospective franchisee should consider this date when reviewing the financial statements, as it represents the latest point of evaluation by the company's management.