Who signed the auditor's report for iTan?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
sued and outstanding as of December 31, 2024 and 2023.
NOTE 12 SUBSEQUENT EVENTS
The Company has evaluated subsequent events through March 11, 2025, the date on which the financial statements were available to be issued. There were no material subsequent events which affected the amounts or disclosures in the financial statements.
| ı | Index | 1 |
|---|---|---|
| 11 | Independent auditor's report | 2 - 3 |
| m | Balance sheets | 4 |
| IV | Statements of earnings | 5 |
| V | Statements of stockholder's equity | 6 |
| VI | Statements of cash flows | 7 |
| VII | Notes to the financial statements | 8 - 15 |
To the Stockholder iTan Franchising, Inc.
INDEPENDENT AUDITOR'S REPORT
Opinion
We have audited the accompanying financial statements of iTan Franchising, Inc., which comprise the balance's heets as of December 31, 2023 and 2022, 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, 2023 and 2022, 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;
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 is addressed to the Stockholder of iTan Franchising, Inc. The report includes an opinion stating that the financial statements of iTan Franchising, Inc. fairly present the company's financial position as of December 31, 2024 and 2023, and the results of its activities and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
The report outlines the responsibilities of both the management and the auditor. Management is responsible for preparing and fairly presenting the financial statements, including internal controls. The auditor's responsibility is to express an opinion on these financial statements based on their audit. The audit was conducted in accordance with auditing standards generally accepted in the United States of America.
The auditor's objectives include obtaining reasonable assurance that 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 auditor also identifies and assesses the risks of material misstatement, understands internal control, evaluates accounting policies, and concludes on Itan's ability to continue as a going concern. The audit report does not explicitly state the name of the individual who signed the report, but it does provide the contact information for the auditing firm: 8989 RIO SAN DIEGO DRIVE, SUITE 250 • SAN DIEGO, CA 92108 TEL 619-231-1977 • FAX 619-231-8244 • www.cccpa.com.
A prospective Itan franchisee should note that while the audit report confirms the financial statements' accuracy, it is essential to conduct thorough due diligence. This includes verifying the auditor's credentials and contacting them directly to discuss any concerns or questions about Itan's financial health. Understanding the auditor's perspective can provide valuable insights into the financial stability and practices of Itan.