Are the statements of retained earnings for Healthsource Chiropractic audited?

According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the company's statements of retained earnings are indeed audited. Specifically, the FDD includes HealthSource Chiropractic's audited balance sheets as of December 31, 2024, 2023, and 2022, along with the related statements of income, retained earnings, and cash flow for the corresponding years.

An independent auditor's report is included in the FDD, which expresses an opinion on the fairness of HealthSource Chiropractic's financial statements. The auditor states that the financial statements present fairly, in all material respects, the financial position of HealthSource Chiropractic 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.

The audit was conducted in accordance with auditing standards generally accepted in the United States of America, ensuring that the auditor is independent and meets ethical responsibilities. The auditor's responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and issuing an auditor's report that includes their opinion.

The inclusion of audited financial statements and an independent auditor's report provides prospective franchisees with a higher level of confidence in the accuracy and reliability of Healthsource Chiropractic's financial information. This allows potential investors to make more informed decisions about investing in a Healthsource Chiropractic franchise.