What is the name of the accounting firm that audited Desi District's financial statements?
Desi_District Franchise · 2024 FDDAnswer from 2024 FDD Document
INDEPENDENT ACCOUNTANT AUDIT REPORT
To the Management of DESI DISTRICT FRANCHISE GROUP, LLC
Opinion
We have audited the financial statements of DESI DISTRICT FRANCHISE GROUP, LLC (the "Company"), which comprise the Balance Sheet as of June 15, 2024, and the related notes for the period then ended. (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at June 15, 2024, and the results of its operations and its cash flows for the period ended June 15, 2024, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit 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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free of material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Desi District's 2024 Franchise Disclosure Document, the financial statements were audited by Omar Alnuaimi, CPA, located in Naperville, IL. The Independent Accountant Audit Report was addressed to the Management of DESI DISTRICT FRANCHISE GROUP, LLC. Omar Alnuaimi, CPA, also provided consent to the use of their report dated June 16, 2024, relating to the Balance Sheet as of June 15, 2024, in the Franchise Disclosure Document issued by Desi District Franchise Group, LLC on June 17, 2024.
This indicates that a certified public accountant has reviewed the financial statements of Desi District and has provided an opinion on whether they fairly represent the company's financial position. The inclusion of an audit report and the CPA's consent in the FDD provides a level of assurance to potential franchisees regarding the accuracy and reliability of the financial information presented.
Prospective franchisees should note the date of the audit (June 16, 2024) and the balance sheet date (June 15, 2024) to understand the period the audit covers. It is also advisable to review the auditor's opinion and any qualifications or disclaimers included in the audit report to fully understand the scope and limitations of the audit. Contacting Omar Alnuaimi, CPA, directly to discuss their findings may also provide additional insights.