What is the auditor's opinion based on regarding the Crave Franchising, LLC financial statements?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Member of Crave Franchising, LLC
Opinion
We have audited the accompanying financial statements of Crave Franchising, LLC, (the Company), a Wyoming limited liability company, which comprise Balance sheet as of December 31, 2024, 2023, and 2022, and the related statement of operations and member's equity and cash flows for the year ended December 31, 2024, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the year ended December 31, 2024, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit 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 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 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the auditor's opinion is based on their audit of the company's financial statements. These statements include the balance sheets as of December 31, 2024, 2023, and 2022, as well as the statements of operations, member's equity, and cash flows for the year ended December 31, 2024, and related notes. The auditor believes that they have obtained sufficient and appropriate audit evidence to provide a basis for their opinion.
The auditor's opinion is that the financial statements present fairly, in all material respects, the financial position of Crave as of December 31, 2024, 2023, and 2022. It also covers the results of its operations and its cash flows for the year ended December 31, 2024. This assessment is made in accordance with accounting principles generally accepted in the United States of America.
The audit was conducted following auditing standards generally accepted in the United States of America (GAAS). As part of the audit, the auditor is required to be independent of Crave and to meet ethical responsibilities relevant to the audit. Management is responsible for the preparation and fair presentation of the financial statements, including the design, implementation, and maintenance of internal controls to prevent material misstatements.