Who is required to sign the financial statements submitted by a Dryject franchisee, attesting to their accuracy?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
CERTIFIED PUBLIC ACCOUNTANT 2300 STATE ROUTE 66, SUITE 202 NEPTUNE, NEW JERSEY 07753
Phone: 732-869-1170 Fax: 732-869-1130 www.rogersteincpa.com
MEMBER: NEW JERSEY SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS LICENSED NEW JERSEY & NEW YORK
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.
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 from 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 DryJect Management, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Auditor's Responsibilities for the Audit of the Financial Statements
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
The 2025 Dryject Franchise Disclosure Document (FDD) does not specify that franchisees must submit financial statements. However, the FDD includes an Independent Auditor's Report related to Dryject Management, LLC's financial statements. These statements, which include balance sheets, income statements, statements of member's capital, and cash flow statements, are audited by an independent auditor.
The Independent Auditor's Report included in the FDD states that 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 from material misstatement, whether due to fraud or error.
The auditor's responsibility is to express an opinion on these financial statements based on their audit. The auditor must be independent of Dryject Management, LLC, and meet ethical requirements relevant to the audit. The auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion.
Prospective franchisees should note that while the franchisor's financial statements are audited by an independent CPA, the FDD does not mention any requirement for franchisees to provide independently audited financial statements. It is advisable for potential Dryject franchisees to clarify with the franchisor whether they need to provide financial statements and, if so, what level of assurance (e.g., audit, review, compilation) is required.