Who is the auditor for Focus Cfo, as stated in the FDD?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
solidated Balance Sheets | 5 | | Consolidated Statements of Income | 6 | | Consolidated Statements of Changes in Members' Equity | 7 | | Consolidated Statements of Cash Flows | | | Notes to Consolidated Financial Statements | |
INDEPENDENT AUDITOR'S REPORT
To the Members Focus CFO Group, LLC Columbus, Ohio
Opinion
We have audited the accompanying consolidated balance sheets of Focus CFO Group, LLC and Subsidiary (the Company) (a Limited Liability Company) as of December 31, 2024 and 2023, and the related consolidated statements of income, members' equity, and cash flows for the three years ended December 31, 2024, 2023, and 2022, and the related notes to the consolidated financial statements. In our opinion the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Focus CFO Group, LLC and Subsidiary as of December 31, 2024, 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 audits in accordance with auditing standards generally accepted in the United States of America. 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 Focus CFO Group, LLC and Subsidiary 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.
Correction of Error
As discussed in the Correction of an Error note to the consolidated financial statements, certain errors resulting in understatement of amounts previously reported for other current liabilities and other long term liabilities, and overstatement of franchise and license fees and net income as of December 31, 2023, and the year then ended, were discovered by management of the Company during the year. Accordingly, amounts reported for other current liabilities, other long term liabilities, franchise and license fees and net income have been restated in the 2023 financial statements now presented and an adjustment has been made to members' equity as of December 31, 2023, to correct the error. Our opinion is not modified with respect to that matter.
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to the 2025 Focus Cfo Franchise Disclosure Document, the independent auditor is BHM CPA Group, Inc., located in Columbus, Ohio. Their report is dated April 10, 2025.
BHM CPA Group, Inc. audited the consolidated balance sheets of Focus CFO Group, LLC and Subsidiary as of December 31, 2024 and 2023, along with the related consolidated statements of income, members' equity, and cash flows for the three years ending December 31, 2024, 2023, and 2022. The auditor's report expresses an opinion that the financial statements present fairly the financial position of Focus CFO Group, LLC and Subsidiary.
The audit was conducted following generally accepted auditing standards in the United States. These standards require the auditor to be independent and to meet ethical responsibilities. The auditor's responsibilities include assessing the risks of material misstatement of the financial statements, understanding internal control, evaluating accounting policies and estimates, and concluding on the company's ability to continue as a going concern.
The audit also addressed a correction of an error related to the understatement of liabilities and overstatement of franchise and license fees and net income as of December 31, 2023. The financial statements were restated to correct this error, and the auditor's opinion was not modified with respect to this matter.