What is the date of the auditor's report for Boomerang Franchise, LLC (Hyper Kidz)?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through March 23, 2024, the date on which the financial statements were available to be issued.
In performing an audit in accordance with GAAS, we:
sess CPA LLC
- 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 Boomerang Franchise, LLC'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 Boomerang Franchise, LLC'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.
Ft. Collins, Colorado March 23, 2024
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the date of the auditor's report is March 23, 2024. The report, issued by Rosse CPA LLC, is for the audit of the financial statements of Boomerang Franchise, LLC. This report includes an opinion on the financial statements as of December 31, 2023, and 2022, and the related statements of operations, members' equity, and cash flows for the years ended December 31, 2023, 2022, and 2021.
The auditor's report assures that the financial statements present fairly the financial position of Hyper Kidz in accordance with accounting principles generally accepted in the United States of America. The audit was conducted following generally accepted auditing standards (GAAS), ensuring independence and ethical responsibilities were met. The auditor believes the evidence obtained provides a sufficient basis for their opinion.
Furthermore, the management of Boomerang Franchise, LLC evaluated subsequent events through March 23, 2024, which is the date the financial statements were available to be issued. This evaluation is important for identifying any events after the balance sheet date that may require disclosure or adjustment in the financial statements. This date indicates when the company's management finalized their review of events that could impact the financial statements, providing further transparency for potential investors and franchisees.