According to the auditor, what standards were followed during the Dryject audit?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
I conducted my audit in accordance with auditing standards generally accepted in the United States of America. My responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of my report. I am required to be independent of DryJect Management, LLC and to meet my other ethical responsibilities in accordance with the relevant ethical requirements relating to my audit. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the auditor, Roger K. Stein CPA LLC, stated that the audit was conducted based on auditing standards generally accepted in the United States of America. This indicates that the audit was performed following a recognized and established set of guidelines to ensure the accuracy and reliability of Dryject's financial statements.
The auditor's report outlines the responsibilities assumed under these standards, including obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error. The auditor is also required to maintain professional skepticism, assess risks of material misstatement, and evaluate the appropriateness of accounting policies used by Dryject's management.
This adherence to generally accepted auditing standards is a common practice in franchising and provides potential franchisees with a level of confidence in the financial information presented. It suggests that an independent professional has reviewed Dryject's financial records and has formed an opinion on their fairness and accuracy. Prospective franchisees should still carefully review the financial statements and consider seeking advice from their own financial advisors.