What is the date of the auditor's report for iTan?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Stockholder iTan Franchising, Inc.
Opinion
We have audited the accompanying financial statements of iTan Franchising, Inc., which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of earnings, stockholder's equity, and cash flows for the years 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 iTan Franchising, Inc. as of December 31, 2024 and 2023, and the results of its activities 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 Financial Statements section of our report. We are required to be independent of iTan Franchising, Inc. 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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about iTan Franchising, Inc.'s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
Based on the 2025 FDD, the independent auditor's report for iTan Franchising, Inc. covers the financial statements for the years ending December 31, 2024 and 2023. The report expresses the auditor's opinion on the fairness of iTan's financial position as of those dates, and the results of its activities and cash flows for those years, in accordance with generally accepted accounting principles in the United States of America.
The auditor states they conducted their audits in accordance with auditing standards generally accepted in the United States of America and believe they have obtained sufficient and appropriate audit evidence to provide a basis for their opinion. The report also outlines the responsibilities of iTan's management in preparing the financial statements, including the design, implementation, and maintenance of internal controls.
Prospective franchisees should note that the auditor's report provides an independent assessment of iTan's financial statements, offering a level of assurance regarding the accuracy and reliability of the financial information presented. This information can be valuable in evaluating the financial health and stability of the franchisor before making an investment decision.