What is the date of the auditor's report for Fly Fitness's financial statements?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
Management evaluated transactions and events occurring subsequent to December 31, 2023 and through February 20, 2024, the date of the independent auditor's report (the date the financial statements were available to be issued), to determine whether any events should be recognized or disclosed in these statements. There were no material transactions or events in the subsequent period requiring disclosure or recognition in the statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 44)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the independent auditor's report for the financial statements as of December 31, 2023, is dated February 20, 2024. This date signifies when the auditor completed their evaluation of the company's financial position for that year.
For a prospective franchisee, this date is important because it indicates how recent the audited financial information is. Financial statements offer insights into the financial stability and performance of Fly Fitness, which can help franchisees assess the financial health of the franchise system.
The FDD also includes financial statements as of December 31, 2022, which have an auditor's report date of March 21, 2023. Reviewing both sets of financial statements and their respective auditor's report dates allows potential franchisees to understand the timeliness and consistency of Fly Fitness's financial reporting.