Are there any qualifications in the audit opinion for Deck Medic?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
Metwally CPA PLLC
CERTIFIED PUBLIC ACCOUNTANT
1312 Norwood Dr STE 100, Bedford, Texas 76022
Cell: 214-200-5434 (Mohamed Metwally) Mmetwally@metwallycpa.com
Independent Auditor's Report
To the Stockholders' of Deck Medic, Inc.
Opinion
We have audited the accompanying financial statements of Deck Medic, Inc. (the "Company") which comprise the balance sheets as of December 31, 2023 and 2022 and the related statements of operations, stockholders' equity, and cash flows for the years then 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 Deck Medic, Inc. as of December 31, 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. 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 Deck Medic, 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 42)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the independent auditor's report from Metwally CPA PLLC expresses an unqualified opinion on the financial statements for both 2023 and 2022. For the 2023 and 2022 statements, the auditor states that the financial statements present fairly, in all material respects, the financial position of Deck Medic. This means the auditor believes the financial statements are presented fairly and in accordance with generally accepted accounting principles (GAAP).
Specifically, the audit covered the balance sheets as of December 31, 2023 and 2022, along with the statements of operations, stockholders' equity, and cash flows for the years then ended, including related notes. The auditor conducted the audits in accordance with auditing standards generally accepted in the United States of America and believes they obtained sufficient and appropriate audit evidence for their opinion.
The management of Deck Medic is responsible for preparing the financial statements and ensuring they are free from material misstatement, whether due to fraud or error. Management must also evaluate the company's ability to continue as a going concern. The auditor's responsibility is to provide reasonable assurance that the financial statements are free from material misstatement and to issue a report that includes their opinion.
Potential franchisees should note that an unqualified opinion is a positive indicator, suggesting that the financial statements provide a reliable view of Deck Medic's financial position and performance. However, it's important to review the entire FDD and financial statements carefully, and to consult with a financial advisor, to fully understand the financial health of Deck Medic.