What firm has served as the auditor for Management Recruiters since 2017?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
n actuary as an auditor's specialist to independently assess the Company's consulting actuary's selection of actuarial methods and assumptions and to evaluate the reasonableness of the resulting workers' compensation claims liability estimate.
/s/ FORVIS, LLP
We have served as the Company's auditor since 2023.
Tampa, Florida March 21, 2024
Report of Independent Registered Public Accounting Firm
To the Stockholders and Board of Directors HireQuest, Inc.
Opinion on the Financial Statements
We have audited the accompanying balance sheet of HireQuest, Inc. (the "Company") as of December 31, 2022, the related statement of operations, changes in stockholders' equity, and cash flows for the year ended December 31, 2022, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2022, and the results of its operations and its cash flows for the year ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
The Company's management is responsible for these financial statements. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, Plante & Moran, PLLC served as the company's auditor from 2017 until 2023. FORVIS, LLP has served as their auditor since 2023. This information is part of the financial statements included in the FDD.
For a prospective franchisee, knowing the auditor provides insight into the financial oversight and validation of Management Recruiters' financial statements. A consistent auditing firm over a period of years, such as Plante & Moran, PLLC from 2017-2023, can suggest stability in financial reporting practices. The change to FORVIS, LLP in 2023 may prompt further inquiry to understand the reasons for the change and whether it signals any shifts in financial management or reporting.
It is typical for franchise companies to have independent auditors examine their financial statements, as this provides an unbiased opinion on the company's financial health. Franchisees should review the auditor's reports and the financial statements themselves to assess the financial stability and performance of Management Recruiters. Understanding the scope and any qualifications in the auditor's opinion is also crucial for making an informed investment decision.