Who is the independent auditor for the Precision Door Service financial statements?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
Ernst & Young LLP One Victory Park Suite 2000 2323 Victory Avenue Dallas, TX 75219
Tel: +1 214 969 8000 Fax: +1 214 969 8587 ey.com
Report of Independent Auditors
To the Board of Directors and Stockholders of Neighborly Company and subsidiaries
Opinion
We have audited the consolidated financial statements of Neighborly Company and subsidiaries (the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations 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 (GAAS). 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 the Company 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 the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free of 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 the Company's ability to continue as a going concern for one year after the date that the financial statements are available to be issued.
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to the 2025 Precision Door Service FDD, the independent auditor for the financial statements of Neighborly Company and its subsidiaries is Ernst & Young LLP. Their office is located at One Victory Park, Suite 2000, 2323 Victory Avenue, Dallas, TX 75219.
Ernst & Young's report indicates they have audited the consolidated financial statements, which include balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity, and cash flows for the years then ended. They state that these financial statements fairly represent the financial position of Neighborly Company and its subsidiaries in accordance with accounting principles generally accepted in the United States of America.
The auditor's report also outlines the responsibilities of both the management and the auditors in preparing and auditing these financial statements. Management is responsible for the fair presentation of the financial statements and maintaining internal controls, while the auditor's responsibility is to express an opinion on these statements based on their audit, conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). This information is important for prospective franchisees as it provides assurance that an independent firm has reviewed the financial records of Precision Door Service's parent company, Neighborly, offering an unbiased opinion on their accuracy and reliability.