consolidated financial statements

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FDD Item 21 Financial Statements: Whose Audits Are These?

A 2026 guide for PE origination teams to attribute FDD Item 21 financial statements, map parent and guarantor accounts, assess audit phase-in, and build an issuer-and-period worksheet.

November 3, 2026• 25 min read
fdd item 21 financial statementsfranchisor audited financial statementsparent guarantor