Does the opinion on Counselor Realty's financial statements cover the notes to the financial statements?

According to Counselor Realty's 2025 Franchise Disclosure Document, the independent auditor's report explicitly states that the audit covers the notes to the financial statements. The auditor's opinion confirms that the financial statements, which include the balance sheets as of December 31, 2024 and 2023, the statements of operations, stockholder's equity, and cash flows for the years ended December 31, 2024, 2023, and 2022, and the related notes, present fairly the financial position of Counselor Realty.

This means that the auditor has examined and provided an opinion on the accuracy and completeness of not only the main financial statements but also the supplementary information provided in the notes. These notes offer additional details and explanations about the figures presented in the primary financial statements, such as accounting policies, related-party transactions, and subsequent events.

For a prospective Counselor Realty franchisee, this is important because it provides assurance that the entire set of financial information, including the notes, has been reviewed by an independent expert. This can increase confidence in the reliability of the financial data presented and help the franchisee make a more informed decision. The notes to the financial statements include important details such as the nature of Counselor Realty's operations, revenue recognition policies, and related-party transactions with Counselor Holding, Inc., the parent company, where expenses are allocated based on usage of system tools and employees.