On what page of the City Publications FDD can I find the Independent Auditor's Report?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
To the Members CITY PUBLICATIONS FRANCHISE GROUP, INC. Atlanta, Geogia
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying balance sheets of CITY PUBLICATIONS FRANCHISE GROUP, INC. as of December 31, 2024, and 2023 and the related statements of operations, shareholders' (deficit), and cash flows for the years ended December 31, 2024, and 2023, and the notes to financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of CITY PUBLICATIONS FRANCHISE GROUP, INC. as of December 31, 2024, and 2023, and the results of their operations and their cash flows for the years ended December 31, 2024, and 2023, 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 CITY PUBLICATIONS FRANCHISE GROUP, INC. 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.
Other Matter
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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 23 — RECEIPT (FDD pages 39–129)
What This Means (2025 FDD)
According to the 2025 City Publications Franchise Disclosure Document, the Independent Auditor's Report begins on page 95. This report includes the opinion of the auditor regarding the financial statements of City Publications Franchise Group, Inc. for the years ending December 31, 2024, and 2023. The auditor's report confirms that the financial statements are presented fairly and in accordance with accounting principles generally accepted in the United States of America.
The report also details the responsibilities of both the management of City Publications and the auditor. Management is responsible for the preparation and fair presentation of the financial statements, while the auditor's responsibility is to express an opinion on those statements based on their audit. The audit is conducted in accordance with auditing standards generally accepted in the United States of America, ensuring a high level of assurance that the financial statements are free from material misstatement.
Prospective franchisees should carefully review the Independent Auditor's Report and the accompanying financial statements to gain a clear understanding of City Publications' financial health and stability. This information can help in assessing the risks and potential rewards associated with investing in a City Publications franchise. Understanding the auditor's opinion and the scope of their review is crucial for making an informed decision.