What does the opinion state regarding the presentation of iTan Franchising, Inc.'s financial position?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to iTan's 2025 Franchise Disclosure Document, the independent auditor's report includes an opinion on iTan Franchising, Inc.'s financial statements. The auditor states that the financial statements present fairly, in all material respects, the financial position of iTan as of December 31, 2024 and 2023.
This opinion also covers the results of iTan's activities and its cash flows for the years then ended, adhering to accounting principles generally accepted in the United States of America. This statement provides assurance that the financial information presented by iTan is reliable and accurate, according to standard accounting practices.
For a potential franchisee, this independent audit opinion is an important factor when evaluating the financial stability and performance of iTan. It suggests that the company's financial records have been reviewed by an independent party and found to be fairly presented, which can increase confidence in the franchisor's financial health.