Who is the CPA that performed the audit for Crab N Spice?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
924 W. 75th Street Suite 120 - 189 Naperville, IL 60565 +1 (815) 348-2421 omar@napercpa.com
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Omar Alnuaimi, CPA
Naperville, IL March 11, 2024
FOR THE YEARS ENDED DECEMBER 31, 2023 & DECEMBER 31, 2022 & DECEMBER 31, 2021 PROFIT & LOSS STATEMENT CRAB N SPICE GROUP
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 40–50)
What This Means (2024 FDD)
According to Crab N Spice's 2024 Franchise Disclosure Document, the audit was performed by Omar Alnuaimi, CPA, located in Naperville, IL. The CPA's contact information is 924 W. 75th Street Suite 120 - 189 Naperville, IL 60565, +1 (815) 348-2421, and omar@napercpa.com. The audit report is addressed to the Management of Crab N Spice Group.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The CPA's responsibilities included assessing the risks of material misstatement of the financial statements, examining evidence regarding amounts and disclosures, and evaluating the appropriateness of accounting policies. The CPA was also responsible for concluding whether there were conditions or events that raised substantial doubt about Crab N Spice's ability to continue as a going concern.
The CPA is required to be independent of Crab N Spice and to meet ethical responsibilities. The CPA's opinion is that the financial statements present fairly, in all material respects, the financial position of Crab N Spice as of December 31, 2023, December 31, 2022, and December 31, 2021, and the results of its operations and its cash flows for the twelve-month periods then ended in accordance with accounting principles generally accepted in the United States of America.
Prospective franchisees should note that the CPA's report does not express an opinion on the effectiveness of Crab N Spice's internal control. The report also relies on management's responsibility for the preparation and fair presentation of the financial statements. Franchisees may want to further investigate the scope and findings of the audit to gain a comprehensive understanding of Crab N Spice's financial health.