Does the Crawlspace Medic FDD include an Independent Auditors' Report?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
P, LLC*
December 31, 2022
TABLE OF CONTENTS CSM FRANCHISE GROUP, LLC December 31, 2022
| Independent Auditors' Report 1 | |
|---|---|
| AUDITED FINANCIAL STATEMENTS | |
| Balance Sheets 3 | |
| Statements of Operations and Changes in Members' Equity (Deficit) 4 | |
| Statements of Cash Flows 5 | |
| Notes to the Financial Statements 6 | |
1704 Laurel Street Columbia, SC 29201
P.O. Box 2411 Columbia, SC 29202
Phone (803) 799-0555 Fax (803) 799-4212
Franchinp
Document downloaded from Franchimp.com 12.2 W. Stulie Aveilue
Greenville, SC 29609
Phone (864) 271-7503 Fax (864) 751-5889
INDEPENDENT AUDITORS' REPORT
To the Members 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, 2022, 2021, and 2020, the related statements of operations and changes in members' equity (deficit), 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, 2022, 2021, and 2020, and the results of its operations and its cash flows for the years then ended in accordance with the 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic FDD, Item 21 includes an Independent Auditors' Report. This report is crucial because it provides an unbiased opinion on the fairness and accuracy of the company's financial statements. The presence of this report indicates that an independent accounting firm has audited Crawlspace Medic's financial records and believes they are presented fairly in accordance with generally accepted accounting principles.
The Independent Auditors' Report in the Crawlspace Medic FDD covers the balance sheets as of December 31, 2023, 2022, and 2021, along with the statements of operations, changes in member's equity, and cash flows for the years then ended. It also includes related notes to the financial statements. This comprehensive audit offers prospective franchisees a detailed view of Crawlspace Medic's financial performance over the past three years, which can help them assess the financial stability and potential profitability of the franchise.
The report includes the opinion of the auditors from the accounting firm Hobbs & Associates, P.A. that the financial statements present fairly the financial position of CSM Franchise Group, LLC as of December 31, 2023, 2022, and 2021. The report also details the responsibilities of both the management of Crawlspace Medic and the auditors in preparing and auditing the financial statements, ensuring transparency and accountability. This level of scrutiny can give potential Crawlspace Medic franchisees confidence in the financial information provided in the FDD.