Does the opinion for Counselor Realty mention any exceptions to the fairness of the financial statements?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
To Counselor Realty Franchising, Inc.
Opinion
We have audited the financial statements of Counselor Realty Franchising, Inc. (the Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations, stockholder's equity and cash flows for the years ended December 31, 2024, 2023 and 2022 and the related notes to 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 ended December 31, 2024, 2023 and 2022 in accordance with accounting principles generally accepted in the United States of America (GAAP).
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 Auditors' 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 32)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the independent auditor's report expresses an unqualified opinion on the company's financial statements. The report states that the financial statements present fairly, in all material respects, the financial position of Counselor Realty as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years ended December 31, 2024, 2023 and 2022, in accordance with accounting principles generally accepted in the United States of America.
This unqualified opinion indicates that the auditors found no material misstatements or exceptions during their audit. It provides assurance to potential franchisees that the financial statements are reliable and fairly represent the company's financial performance and position. The audit was conducted in accordance with auditing standards generally accepted in the United States of America.
The auditors believe that the audit evidence they obtained is sufficient and appropriate to provide a basis for their audit opinion. Their responsibilities include exercising professional judgment, assessing the risks of material misstatement, and evaluating the appropriateness of accounting policies and the reasonableness of significant accounting estimates made by management.
Prospective franchisees can take comfort in the fact that Counselor Realty's financial statements have been reviewed by an independent auditor and found to be fairly presented without any noted exceptions. This can help in making an informed decision about investing in a Counselor Realty franchise.