Is there an audit opinion included with the Epcon Communities financial statements?
Epcon_Communities Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Members Epcon Communities Franchising, LLC and Subsidiary Dublin, Ohio
Independent Auditor's Report
Opinion
We have audited the accompanying consolidated financial statements of Epcon Communities Franchising, LLC and Subsidiary (the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income and changes in member's equity and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company 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
We conducted our audits 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 Consolidated 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 85)
What This Means (2025 FDD)
According to Epcon Communities' 2025 Franchise Disclosure Document, the financial statements include an independent auditor's report containing an opinion. The report indicates that the consolidated financial statements of Epcon Communities Franchising, LLC and Subsidiary have been audited. These statements comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income, changes in member's equity, and cash flows for the years then ended, including related notes.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Epcon Communities as of December 31, 2024 and 2023, and the results of its operations and cash flows for those years, in accordance with accounting principles generally accepted in the United States of America. The audit was conducted following auditing standards generally accepted in the United States of America (GAAS), and the auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion.
This inclusion of an independent auditor's report with an opinion is a standard practice that provides assurance to potential franchisees regarding the reliability and accuracy of Epcon Communities' reported financial information. It signifies that an independent firm has reviewed the financial statements and believes they are presented fairly and in accordance with established accounting principles. This can give a prospective franchisee more confidence when making their investment decision.