Who is the auditing firm for Gokhale Method?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
In performing an audit in accordance with generally accepted auditing standards, we:
- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Gokhale Method Institute, Inc.'s internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Gokhale Method Institute, Inc.'s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Farber Hass Hurley LLP
Farler Ham Hamlyup
Chatsworth, California April 19, 2024
9301 Oakdale Avenue, Suite 230 Chatsworth, CA 91311 P 818-895-1943 F 818-727-7700 fhhcpas.com
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the auditing firm is Farber Hass Hurley LLP. Their report, included in the FDD, covers the financial statements of Gokhale Method Institute, Inc. as of December 31, 2023. The report expresses an opinion on the fairness of the presentation of Gokhale Method Institute, Inc.'s financial position, results of operations, and cash flows in accordance with accounting principles generally accepted in the United States of America.
Farber Hass Hurley LLP states they conducted their audit in accordance with auditing standards generally accepted in the United States of America. Their responsibilities include exercising professional judgment, assessing risks of material misstatement, understanding internal controls (though not expressing an opinion on their effectiveness), evaluating accounting policies, and concluding on Gokhale Method Institute's ability to continue as a going concern. The auditors are also required to communicate with those charged with governance regarding the audit's scope, timing, findings, and internal control matters.
The auditor's report included in the Gokhale Method's FDD is a standard practice in franchising, providing potential franchisees with an independent assessment of the franchisor's financial health. This report can help prospective franchisees evaluate the financial stability of Gokhale Method and make informed decisions about investing in a franchise. The report is dated April 19, 2024, and lists their address as 9301 Oakdale Avenue, Suite 230 Chatsworth, CA 91311.