What does the auditing firm believe regarding the audit evidence obtained during the Remax audit?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, Ernst & Young LLP stated in their report that they believe the audit evidence they obtained is sufficient and appropriate to provide a basis for their audit opinion. This opinion is based on their audits conducted in accordance with auditing standards generally accepted in the United States of America (GAAS).
Ernst & Young's responsibilities under GAAS include a further description in the Auditor's Responsibilities for the Audit of the Financial Statements section of their report. They are also required to be independent of Remax and to meet other ethical responsibilities in accordance with relevant ethical requirements relating to their audits.
This statement provides assurance to potential Remax franchisees that the financial statements have been thoroughly examined by an independent auditing firm, and that the firm believes it has gathered enough reliable evidence to support its opinion on the fairness and accuracy of those statements. This can help franchisees feel more confident in the financial information provided by Remax.