Are the financial statements for Crepe De Licious audited?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
Brock, Schechter & Polakoff, LLP
726 Exchange St. | Suite 822 | Buffalo, NY 14210 Phone: 716-854-5034 | Fax: 716-854-7195
Independent Auditor's Report
To the Shareholder Crepe Delicious Holding USA, Inc.
Report on the Audits of the Financial Statements
Opinion
We have audited the financial statements of Crepe Delicious Holding USA, Inc. (a C Corporation), which comprise the balance sheets as of December 31, 2024 and December 31, 2023, and the related statements of income and retained earnings, 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 Crepe Delicious Holding USA, Inc. as of December 31, 2024 and December 31, 2023, 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 Audits of the Financial Statements section of our report. We are required to be independent of Crepe Delicious Holding USA, 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 57)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, the financial statements of Crepe Delicious Holding USA, Inc. are indeed audited. The FDD includes an Independent Auditor's Report from Brock, Schechter & Polakoff, LLP, indicating that they have audited the company's financial statements. This report covers the balance sheets as of December 31, 2024, and December 31, 2023, along with the related statements of income and retained earnings, and cash flows for those years. The auditor's opinion states that the financial statements present fairly the financial position of Crepe Delicious Holding USA, Inc. 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). The auditor's responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error. They also evaluate the appropriateness of accounting policies and the reasonableness of significant accounting estimates made by management. The auditor's report provides a basis for their opinion, stating that the audit evidence obtained was sufficient and appropriate.
For a prospective Crepe De Licious franchisee, this is a positive sign, as audited financial statements provide a higher level of confidence in the accuracy and reliability of the financial information presented. It means an independent firm has reviewed the financials and provided an opinion on their fairness and accuracy. This can help potential franchisees make a more informed decision about investing in the franchise. The report is dated April 1, 2024.