Does the Gokhale Method provide both audited and unaudited financial statements?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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INDEPENDENT AUDITORS' REPORT
To the Board of Directors of Gokhale Method Institute, Inc. (a wholly owned subsidiary of Gokhale Method Enterprise, Inc.) Stanford, California
Opinion
We have audited the accompanying financial statements of Gokhale Method Institute, Inc. ("GMI" or the "Company"), which comprise the balance sheet as of December 31, 2023, and the related statements of income, changes in stockholder's equity, and cash flows for the year 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 Gokhale Method Institute, Inc. as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Gokhale Method Institute, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the provided excerpts include Independent Auditors' Reports on the financial statements of Gokhale Method Institute, Inc. These reports cover the balance sheets, statements of income, changes in stockholder's equity, and cash flows for the years ended December 31, 2023, December 31, 2022, and the period covering December 31, 2021 and 2020. The reports explicitly state that the financial statements have been audited in accordance with generally accepted auditing standards in the United States of America.
The presence of these Independent Auditors' Reports indicates that Gokhale Method provides audited financial statements. The reports include opinions from the auditors that the financial statements present fairly the financial position, results of operations, and cash flows of Gokhale Method Institute, Inc. for the specified periods, in all material respects, in accordance with accounting principles generally accepted in the United States of America.
However, the excerpts do not explicitly mention whether Gokhale Method also provides unaudited financial statements. The documents focus solely on the audited financial statements and the responsibilities of both the management and the independent auditors in relation to these statements. A prospective franchisee should confirm with Gokhale Method if unaudited financial statements are also available for review to gain a more comprehensive understanding of the company's financial history and performance.