2 unchanged sentences
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
−Removed: On August 11, 2024, the Audit
−Removed: Committee of the Board of Directors of the Company approved the dismissal of, and dismissed, KNAV CPA LLP (“KNAV”) as the
−Removed: Company’s independent registered public accounting firm.
−Removed: KNAV was the independent registered public accounting firm of the Company
−Removed: since February 1, 2024.
−Removed: Prior to the completion of the Company’s business combination with AARK, KNAV had been the independent registered
−Removed: public accounting firm of AARK since 2022.
−Removed: KNAV’s report on AARK’s
−Removed: carve-out consolidated financial statements, as of and for the fiscal years ended March 31, 2023 and March 31, 2022 (as restated) (the
−Removed: “AARK Financial Statements”) did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified
−Removed: as to uncertainty, audit scope, or accounting principle, except that the report of KNAV on the AARK Financial Statements contained an
−Removed: explanatory paragraph which noted that the AARK Financial Statements have been restated to correct certain misstatements.
−Removed: During the fiscal years ended
−Removed: March 31, 2023 and March 31, 2024 and the subsequent interim period, there were no “disagreements” (as defined in Item 304(a)(1)(iv)
−Removed: of Regulation S-K) between the Company and KNAV on any matter of accounting principles or practices, financial statement disclosure, or
−Removed: auditing scope or procedures, which disagreements, if not resolved to the satisfaction of KNAV, would have caused KNAV to make reference
−Removed: to the subject matter of such disagreements in their reports on the Company’s consolidated financial statements for such fiscal
−Removed: periods except with respect to the below.
−Removed: In connection with the audit
−Removed: of the Company’s financial statements for the fiscal year ended March 31, 2024, KNAV advised the Company of its need to expand the
−Removed: scope of the procedures related to revenue recognition for certain contracts in the Middle East and APAC region.
−Removed: During the course of
−Removed: considering the request of KNAV, the Company determined that its revenue arrangements (and the accounting for those arrangements) require
−Removed: greater auditing resources to attest in a timely manner.
−Removed: As a result of this determination, the Company decided that it needed to engage
−Removed: an independent accountant that is located close to the Company’s accounting operations, in India, and therefore is more readily
−Removed: accessible to the Company than is KNAV.
−Removed: Accordingly, the Company’s Audit Committee determined to engage Manohar Chowdhry & Associates
−Removed: (“MCA”), as its principal independent accountant.
−Removed: During the fiscal years ended
−Removed: March 31, 2023 and March 31, 2024 and the subsequent interim period, there were no “reportable events” as defined in Item
−Removed: 304(a)(1)(v) of Regulation S-K, except as set forth above and below.
−Removed: As previously disclosed in
−Removed: Item 4 of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023, the Company concluded that
−Removed: its internal control over financial reporting was not effective as of December 31, 2023 due to certain material weaknesses that are primarily
−Removed: attributable to improper segregation of duties, inadequate processes for timely recording of significant events and material transactions,
−Removed: and inadequate design and implementation of information and communication policies, procedures and monitoring activities.
−Removed: matters of this reportable event were discussed by the Audit Committee with KNAV.
−Removed: On August 11, 2024, the Audit
−Removed: Committee appointed MCA as the successor independent registered public accounting firm.
−Removed: MCA will serve as the Company’s independent
−Removed: registered public accounting firm for the fiscal years ended March 31, 2024 and 2023.
−Removed: During the fiscal years ended
−Removed: March 31, 2023 and March 31, 2024 and the subsequent interim period, neither the Company nor anyone on its behalf consulted MCA regarding:
−Removed: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that
−Removed: might be rendered on the Company’s consolidated financial statements, and neither a written report nor oral advice was provided
−Removed: to the Company that was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial
−Removed: reporting issue, or (ii) any matter that was either the subject of a “disagreement,” as that term is defined in Item 304(a)(1)(iv)
−Removed: of Regulation S-K, or a “reportable event,” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
+Added: On August 11, 2024, the Audit Committee of the Board of Directors of the Company approved the dismissal of, and dismissed, KNAV CPA LLP (“KNAV”) as the Company’s independent registered public accounting firm.
+Added: KNAV was the independent registered public accounting firm of the Company since February 1, 2024.
+Added: Prior to the completion of the Company’s business combination with AARK, KNAV had been the independent registered public accounting firm of AARK since 2022.
+Added: KNAV’s report on AARK’s carve-out consolidated financial statements, as of and for the fiscal years ended March 31, 2023 and March 31, 2022 (as restated) (the “AARK Financial Statements”) did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principle, except that the report of KNAV on the AARK Financial Statements contained an explanatory paragraph which noted that the AARK Financial Statements have been restated to correct certain misstatements.
+Added: During the fiscal years ended March 31, 2023 and March 31, 2024 and the subsequent interim period, there were no “disagreements” (as defined in Item 304(a)(1)(iv) of Regulation S-K) between the Company and KNAV on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of KNAV, would have caused KNAV to make reference to the subject matter of such disagreements in their reports on the Company’s consolidated financial statements for such fiscal periods except with respect to the below.
+Added: In connection with the audit of the Company’s financial statements for the fiscal year ended March 31, 2024, KNAV advised the Company of its need to expand the scope of the procedures related to revenue recognition for certain contracts in the Middle East and APAC region.
+Added: During the course of considering the request of KNAV, the Company determined that its revenue arrangements (and the accounting for those arrangements) require greater auditing resources to attest in a timely manner.
+Added: As a result of this determination, the Company decided that it needed to engage an independent accountant that is located close to the Company’s accounting operations, in India, and therefore is more readily accessible to the Company than is KNAV.
+Added: Accordingly, the Company’s Audit Committee determined to engage Manohar Chowdhry & Associates (“MCA”), as its principal independent accountant.
+Added: During the fiscal years ended March 31, 2024 and March 31, 2025 and the subsequent interim period, there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K, except as set forth above and below.
+Added: As previously disclosed in Item 4 of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023, the Company concluded that its internal control over financial reporting was not effective as of December 31, 2023 due to certain material weaknesses that are primarily attributable to improper segregation of duties, inadequate processes for timely recording of significant events and material transactions, and inadequate design and implementation of information and communication policies, procedures and monitoring activities.
+Added: The subject matters of this reportable event were discussed by the Audit Committee with KNAV.
+Added: On August 11, 2024, the Audit Committee appointed MCA as the successor independent registered public accounting firm.
+Added: MCA served as the Company’s independent registered public accounting firm for the fiscal years ended March 31, 2025, 2024 and 2023.
+Added: During the fiscal years ended March 31, 2024 and March 31, 2025 and the subsequent interim period, neither the Company nor anyone on its behalf consulted MCA regarding:
+Added: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and neither a written report nor oral advice was provided to the Company that was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement,” as that term is defined in Item 304(a)(1)(iv) of Regulation S-K, or a “reportable event,” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.