As of what date were the Crawlspace Medic financial statements audited?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
1704 Laurel Street Columbia, SC 29201
P.O. Box 2411 Columbia, SC 29202
Phone (803) 799-0555 Fax (803) 799-4212 www.hobbscpa.com
Phone (864) 271-7503 Fax (864) 751-5889
INDEPENDENT AUDITORS' REPORT
To the Member of CSM Franchise Group, LLC
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
Opinion
We have audited the financial statements of CSM Franchise Group, LLC (the "Company"), which comprise the balance sheets as of December 31, 2023, 2022, and 2021, the related statements of operations and changes in member's equity, and cash flows for the years then ended, 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, 2023, 2022, and 2021, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
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 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 the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of interna
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the company's financial statements were audited as of December 31, 2023, 2022, and 2021. The audit was conducted by an independent auditor, who issued a report on the financial statements of CSM Franchise Group, LLC. The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of the company as of those dates, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
This audit provides prospective Crawlspace Medic franchisees with an independent assessment of the company's financial health. Franchisees typically rely on audited financial statements to gain confidence in the franchisor's stability and ability to support the franchise system. The audit confirms that the financial statements are presented fairly and in accordance with generally accepted accounting principles, which enhances their reliability.
The audit covered the balance sheets, statements of operations and changes in member's equity, and cash flows for the specified years. These statements provide a comprehensive view of Crawlspace Medic's financial performance and position. By reviewing these audited statements, potential franchisees can assess the company's revenues, expenses, assets, liabilities, and equity, which can inform their decision about investing in a franchise.
The auditor's report also outlines the responsibilities of both management and the auditor in the financial reporting process. Management is responsible for the preparation and fair presentation of the financial statements, while the auditor is responsible for expressing an opinion on those statements based on their audit. This division of responsibilities helps ensure the integrity and objectivity of the audit process.