What is the date of the auditor's report for Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
To the Board of Directors and Shareholders Punch King Fitness, Inc.
Opinion
We have audited the accompanying financial statements of Punch King Fitness, Inc., which comprise the balance sheet as of December 31, 2023, and the related statements of income and retained earnings and cash flows for the year 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 Punch King Fitness, Inc. as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, the independent auditor's report is related to the financial statements as of December 31, 2023. The audit covers the balance sheet as of this date, along with the statements of income and retained earnings, and cash flows for the year then ended.
The auditor, WDD CPAs, expresses an opinion that the financial statements present fairly the financial position of Punch King Fitness as of December 31, 2023, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.
This information is crucial for prospective franchisees as it provides an overview of the company's financial health. The audit, conducted according to generally accepted auditing standards, offers a level of assurance regarding the accuracy and reliability of the financial statements. Franchisees should review these audited statements carefully to understand the financial standing of Punch King Fitness before making any investment decisions.