Are Spray Net's financial statements audited?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Stockholders of Spray-Net, Inc.
Opinion
We have audited the financial statements of Spray-Net, Inc., which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Spray-Net, Inc. as of December 31, 2024, 2023 and 2022, 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 Spray-Net, 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 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 from 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 Spray-Net, Inc.'s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the company's financial statements have been audited. An independent auditor's report from Muhammad Zubairy, CPA PC, is included in the FDD.
The auditor's report states that they audited the balance sheet as of December 31, 2024, 2023, and 2022, along with the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended. The auditor's opinion is that the financial statements present fairly, in all material respects, the financial position of Spray-Net, Inc. as of those dates, in accordance with accounting principles generally accepted in the United States of America.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities included being independent of Spray-Net, Inc. and meeting ethical responsibilities, as well as obtaining sufficient and appropriate audit evidence to provide a basis for their opinion. Management is responsible for the preparation and fair presentation of the financial statements, including internal controls and evaluating Spray Net's ability to continue as a going concern.