Are the Expense Reduction Analysts financial statements audited?
Expense_Reduction_Analysts Franchise · 2025 FDDAnswer from 2025 FDD Document
CliftonLarsonAllen LLP CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Board of Directors Expense Reduction Analysts, Inc. and Subsidiaries Addison, Texas
Report on the Audit of the Financial Statements Opinion
We have audited the accompanying consolidated financial statements of Expense Reduction Analysts, Inc. and subsidiaries, which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Expense Reduction Analysts, Inc. and subsidiaries 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 Auditors' Responsibilities for the Audit of the consolidated Financial Statements section of our report. We are required to be independent of Expense Reduction Analysts, Inc. and subsidiaries 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 57)
What This Means (2025 FDD)
According to Expense Reduction Analysts's 2025 Franchise Disclosure Document, the company's financial statements are indeed audited by an independent auditor. The Independent Auditor's Report included in the FDD confirms that CliftonLarsonAllen LLP audited the consolidated financial statements of Expense Reduction Analysts, Inc. and subsidiaries. This audit covers the consolidated balance sheets as of December 31, 2024 and 2023, along with the related consolidated statements of operations, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Expense Reduction Analysts and its subsidiaries 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.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities include obtaining reasonable assurance about whether the consolidated financial statements are free from material misstatement, whether due to fraud or error, and issuing an auditor's report that includes their opinion. This provides a level of confidence in the accuracy and reliability of the financial information presented, which is crucial for prospective franchisees when evaluating the financial health and stability of Expense Reduction Analysts.