Are the Exit Realty Upper Midwest financial statements audited?

According to Exit's 2025 Franchise Disclosure Document, the financial statements for Exit Realty Upper Midwest are audited. Item 21 of the FDD includes Exit Realty Upper Midwest's audited financial statements for the years ending December 31, 2022, December 31, 2023, and December 31, 2024, as Exhibit F.

An independent auditor's report is included in the FDD. The auditor states they have audited the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of income (loss), changes in stockholders' equity (deficit), and cash flows for the years then ended, and the related notes to the financial statements. The auditor's opinion is that the financial statements present fairly the financial positions of Upper Midwest Realty, Inc. d.b.a. Exit Realty Upper Midwest as of December 31, 2024, 2023, and 2022, and the results of their operations and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

The audit was conducted in accordance with auditing standards generally accepted in the United States of America. The auditor's responsibilities include exercising professional judgment, assessing the risks of material misstatement, obtaining an understanding of internal control, evaluating accounting policies, and concluding on the company's ability to continue as a going concern. The auditor is also required to communicate with those charged with governance regarding the audit's scope, findings, and internal control related matters.