Are the financial statements for Crepe De Licious prepared by an independent auditor?
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.
Responsibilities of Management for the Financial Statements
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 have been audited by an independent auditor. The report included in the FDD is from Brock, Schechter & Polakoff, LLP, who are CPAs and Consultants located in Buffalo, New York.
The Independent Auditor's Report states that Brock, Schechter & Polakoff, LLP have audited the balance sheets of Crepe Delicious Holding USA, Inc. as of December 31, 2024 and December 31, 2023, including the statements of income and retained earnings, and cash flows for the years then ended, and the related notes to the financial statements. Their opinion is that the financial statements present fairly 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.
The auditor's report also describes the responsibilities of both Crepe De Licious's management and the auditor. Management is responsible for preparing and fairly presenting the financial statements according to U.S. accounting principles, including internal controls. The auditor's responsibility is to express an opinion on these financial statements based on their audit, ensuring they are free from material misstatement. The audit is conducted according to auditing standards generally accepted in the United States of America (GAAS).
For a potential Crepe De Licious franchisee, this independent audit provides assurance that the financial information presented by the franchisor has been examined by an objective third party. This helps in making informed decisions about investing in the franchise, as it adds credibility to the financial data provided in the FDD.