Are the Spray Net financial statements unaudited?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
MUHAMMAD ZUBAIRY, CPA PC
Certified Public Accountant 648.327.7013
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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the financial statements have been audited by an independent auditor. The Independent Auditor's Report states that Muhammad Zubairy, CPA PC, has audited the financial statements of Spray-Net, Inc., which includes the balance sheet as of December 31, 2024, 2023 and 2022, and the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
The auditor's opinion is that the financial statements 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.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities include being independent of Spray-Net, Inc. and meeting ethical responsibilities. The auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for the audit opinion. This indicates a higher level of scrutiny and assurance compared to unaudited financial statements, which are prepared by the company's management without independent verification.