What is management responsible for regarding the preparation of All Team's financial statements?

According to All Team's 2025 Franchise Disclosure Document, management is responsible for several key aspects of the company's financial statements. These responsibilities include the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. This means that All Team's management must ensure the financial statements accurately reflect the company's financial position and performance, adhering to standard accounting practices.

In addition to preparation and presentation, All Team's management is also responsible for the design, implementation, and maintenance of internal controls. These controls are essential for ensuring that the financial statements are free from material misstatements, whether those misstatements are due to fraud or error. This involves establishing and maintaining systems and procedures to prevent and detect inaccuracies or fraudulent activities that could impact the financial statements.

Furthermore, All Team's management is required to evaluate whether there are conditions or events that raise substantial doubt about the company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued. This assessment involves considering various factors and indicators that could affect the company's financial stability and viability in the near term. This evaluation is crucial for providing transparency to stakeholders about the company's financial health and potential risks.