factual

What is the date of the auditor's report for Engel & Volkers?

Engel_Volkers Franchise · 2025 FDD

Answer from 2025 FDD Document

In performing an audit in accordance with generally accepted auditing standards, we:

  • Exercise professional judgment and maintain professional skepticism throughout the audit.
  • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements.
  • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Engel & Völkers Americas, Inc. and Subsidiary's internal control. Accordingly, no such opinion is expressed.
  • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.
  • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Engel & Völkers Americas, Inc. and Subsidiary's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Melville, New York

March 6, 2025

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)

What This Means (2025 FDD)

According to Engel & Volkers' 2025 Franchise Disclosure Document, the auditor's report is dated March 6, 2025. This date indicates when the audit was completed and the auditor issued their opinion on the company's financial statements. The audit was conducted for Engel & Volkers Americas, Inc. and its subsidiary.

The auditor's report is included as part of the consolidated financial statements, which cover the balance sheets as of December 31, 2024, and 2023, as well as the statements of comprehensive income (loss), changes in shareholders' equity, and cash flows for each of the years in the three-year period ended December 31, 2024. The report confirms that the financial statements present fairly the financial position, results of operations, and cash flows of Engel & Volkers Americas, Inc. and its subsidiary in accordance with accounting principles generally accepted in the United States of America.

For a prospective Engel & Volkers franchisee, the auditor's report provides assurance that an independent firm has reviewed the franchisor's financial records and found them to be fairly presented. This can be an important factor in assessing the financial stability and transparency of the franchise system. Franchisees should review the full audited financial statements, including the notes, to gain a comprehensive understanding of Engel & Volkers' financial performance and position.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.