At Schultz & Associates, CPA, we perform each Franchise Balance Sheet Audit in accordance with applicable auditing standards while maintaining a practical and efficient process. First, we gain a clear understanding of your franchise structure, ownership, and capitalization. Next, we examine documentation supporting cash contributions, loan proceeds, prepaid expenses, franchise fees, and startup assets.
Furthermore, we review liabilities such as loans payable, accrued expenses, and contractual obligations tied to the franchise agreement. We also analyze equity transactions to confirm proper classification and disclosure. Throughout the engagement, we communicate clearly and proactively so you understand expectations, timelines, and next steps.
Because franchise owners often work under strict deadlines, we prioritize responsiveness and clarity from start to finish.
What the Franchise Balance Sheet Audit Includes
This Franchise Balance Sheet Audit engagement includes:
- An audit of the franchise balance sheet as of a specified date
- Verification of owner contributions and funding sources
- Review of franchise fees and pre-opening expenditures
- Evaluation of liabilities and equity classifications
- Issuance of an audit report suitable for FDD
However, this engagement does not include bookkeeping, tax preparation, or future operational audits unless agreed upon separately.
Franchise Balance Sheet Audit Fee and Payment Terms
The fee for the franchise balance sheet audit is $3,000. Because we reserve professional resources upon acceptance, payment is due in full at the time of signing the engagement letter. Once we receive the signed engagement letter and payment, we begin the audit process promptly.
Why Choose Schultz & Associates, CPA
Schultz & Associates, CPA understands the financial and compliance requirements franchise owners face before opening day. Therefore, we combine audit expertise with practical franchise experience. Moreover, we focus on accuracy, clear communication, and timely delivery so you can move forward with confidence.
If your franchisor or lender requires a Franchise Balance Sheet Audit, our team stands ready to help you meet that requirement efficiently and professionally.
Start Your Engagement Audit Today
To begin your balance sheet audit, contact Schultz & Associates, CPA today. We will review your requirements, issue an engagement letter, and guide you through the next steps so you can stay focused on launching your franchise successfully.
Lewis Boucher, CPA is Ready to Help with Your FDD Audit
Lewis Boucher, CPA is ready to assist you with your franchise audited financial statement needs. Please click here to see his bio and get in touch with him.
You can reach Lew either by phone (734) 354-2380 ext. 110 or by email at lboucher@schultz-cpa.com