Who is the independent auditor for Crave's financial statements?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
Report of Independent Auditors
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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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.
In preparing the financial statements, management is required to evaluate whether 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 one year after March 24, 2025.
Auditors' Responsibilities for the Audit of the Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 62)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the financial statements of Crave Franchising, LLC, as of December 31, 2024, 2023, and 2022, were audited. The document includes a "Report of Independent Auditors" which expresses an opinion on the fairness of Crave's financial presentation in accordance with accounting principles generally accepted in the United States of America.
The report indicates that the audit was conducted following generally accepted auditing standards (GAAS), emphasizing the auditor's responsibility to be independent and meet ethical requirements. The auditor believes the evidence obtained provides a sufficient basis for their opinion. The report also outlines management's responsibilities for preparing the financial statements, including internal controls and assessing the company's ability to continue as a going concern.
While the FDD excerpt confirms that an independent audit was performed, it does not explicitly name the auditing firm or individual responsible for the audit. A prospective franchisee would need to review the full financial statements or contact Crave directly to obtain the name of the independent auditor.