Are Dryject's financial statements audited?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
TO: DRYJECT MANAGEMENT, LLC HATBORO, PENNSYLVANIA
Opinion
I have audited the accompanying financial statements of DryJect Management, LLC (a single member LLC), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income and member's capital, and cash flows for the years then ended, and the related notes to the financial statements.
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of DryJect Management, LLC as of December 31, 2024 and 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
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 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's financial statements are indeed audited by an independent auditor. The FDD includes an Independent Auditor's Report, which covers the balance sheets, statements of income and member's capital, and cash flows. These audits were conducted for the years ending December 31, 2024 and 2023, as well as for the years ending December 31, 2023 and 2022, and December 31, 2022 and 2021.
The auditor, Koger K. Stein, CPA LLC, expresses an opinion that the financial statements present fairly, in all material respects, the financial position of DryJect Management, LLC, in accordance with accounting principles generally accepted in the United States of America. This opinion indicates that the auditor has performed procedures to obtain reasonable assurance that the financial statements are free from material misstatement.
For a prospective franchisee, this is a positive sign, as audited financial statements provide a higher level of confidence in the financial information presented. The audit is conducted in accordance with generally accepted auditing standards, which include evaluating the appropriateness of accounting policies and the reasonableness of significant accounting estimates made by management. The auditor is also required to be independent of DryJect Management, LLC, ensuring an unbiased assessment of the company's financial position.
It is important to note that while an audit provides reasonable assurance, it is not an absolute guarantee that all misstatements will be detected. The auditor's report also outlines the responsibilities of DryJect's management for the preparation and fair presentation of the financial statements, including the design, implementation, and maintenance of internal controls.