What accounting firm audits Fitstop's financial statements?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
MUHAMMAD ZUBAIRY, CPA PC
Certified Public Accountant 646.327.7013
INDEPENDENT AUDITOR'S REPORT
To the members Fitstop USA, INC.
Opinion
We have audited the financial statements of Fitstop USA, INC. which comprise the balance sheet as of December 31, 2023 and 2022, and the related statement of operations and changes in members' equity, and cash flow for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Fitstop USA, INC. as at December 31, 2023 and 2022, 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 auditsin accordance with auditing standards generally accepted in the United StatesofAmerica (GAAS). Ourresponsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. Weare required to be independent of Fitstop USA, INC. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirementsrelating to our audits. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our 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 controlrelevant to the preparationand fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the financial statements of Fitstop USA, INC. have been audited by Muhammad Zubairy, CPA PC. The audit encompassed the balance sheets as of December 31, 2023, and 2022, along with the related statements of operations and changes in members' equity, and cash flow for the years then ended.
The Independent Auditor's Report, signed on May 23, 2024, expresses an opinion that the financial statements present fairly the financial position of Fitstop USA, INC. as of December 31, 2023 and 2022, 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.
This audit provides assurance to prospective franchisees that Fitstop's financial records have been examined by an independent and qualified accounting firm. This is a standard practice in franchising, as audited financial statements offer a higher level of credibility compared to unaudited statements. Franchisees can use this information to assess the financial health and stability of Fitstop before making an investment decision.