Are the financial statements for Creative World School audited or unaudited?
Creative_World_School Franchise · 2025 FDDAnswer from 2025 FDD Document
April 4, 2025
To the Stockholders of Creative World Schools Franchising Company, Inc. Bonita Springs, Florida
Opinion
We have audited the accompanying financial statements of Creative World Schools Franchising Company, Inc. (the Company), which comprise the balance sheets as of December 31, 2024, 2023 and 2022, and the related statements of ended, 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 Creative World Schools Franchising Co., Inc., as of December 31, 2024, 2023 and 2022, 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 sta Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Creative World Schools Franchising Co., Inc. 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 80)
What This Means (2025 FDD)
According to the 2025 Creative World School FDD, the financial statements have been audited. The report includes an opinion from an independent certified public accountant. The audit was conducted based on generally accepted auditing standards in the United States of America. These standards require the auditor to be independent and to meet ethical responsibilities.
The auditor's opinion confirms that the financial statements of Creative World Schools Franchising Company, Inc. fairly represent the company's financial position as of December 31, 2024, 2023, and 2022. The opinion also covers the results of its operations and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
The audited financial statements provide a higher level of confidence in the accuracy and reliability of the financial information presented, as they have been examined by an independent professional. This is a common practice for established franchisors, as it provides transparency and assurance to potential franchisees regarding the financial health of the franchise system.