According to Itan's 2025 Franchise Disclosure Document, the financial statements are indeed audited. Item 21 explicitly states that audited financial statements for the fiscal years ended December 31, 2024, December 31, 2023, and December 31, 2022, are attached as Exhibit "G".

Furthermore, the presence of an "Independent Auditor's Report" reinforces this. The report includes the auditor's opinion that the financial statements present fairly 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. A similar report is included for the financial statements as of December 31, 2023 and 2022.

For a prospective franchisee, this is a positive sign. Audited financial statements provide a higher level of assurance regarding the accuracy and reliability of the financial information presented. This means that an independent accounting firm has reviewed Itan's financial records and expressed an opinion on whether they are fairly presented in accordance with established accounting standards. This can help potential franchisees make more informed decisions about investing in an Itan franchise.