4 unchanged sentences
As required by Rule 13a-15(b) of the Exchange Act, our management, including our Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report.
−Removed: Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded our disclosure controls and procedures are not effective at June 30, 2022 due to the material weaknesses in internal control over financial reporting described below, which were previously disclosed in Item 9A.
+Added: Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded our disclosure controls and procedures are not effective at September 30, 2022 due to the material weaknesses in internal control over financial reporting described below, which were previously disclosed in Item 9A.
“Controls and Procedures”
5 unchanged sentences
Management’s Report on Internal Control over Financial Reporting
−Removed: Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a‑15(f) under the Exchange Act.
−Removed: Under the supervision of our Chief Executive Officer and Chief Financial Officer, management conducted an evaluation of the effectiveness of our internal control over financial reporting as of June 30, 2022 based on the guidelines established in Internal Control —
+Added: Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a‑15(f) under the Exchange Act.
+Added: Under the supervision of our Chief Executive Officer and Chief Financial Officer, management conducted an evaluation of the effectiveness of our internal control over financial reporting as of September 30, 2022 based on the guidelines established in Internal Control —
Integrated Framework (2013 Framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
−Removed: Based on this evaluation, our management concluded that our internal control over financial reporting was not effective as of June 30, 2022 due to the material weaknesses described below.
+Added: Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of September 30, 2022 due to the material weaknesses described below.
Material Weaknesses in Internal Control
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility a material misstatement of annual or interim consolidated financial statements will not be prevented or detected on a timely basis.
−Removed: We continue to have previously identified control deficiencies that are not remediated as of June 30, 2022 related to an ineffective control environment, ineffective risk assessment, and ineffective information and communication resulting from an insufficient number of trained resources with expertise in implementation and operation of internal control over financial reporting and information technology systems.
+Added: We continue to have previously identified control deficiencies that are not remediated as of September 30, 2022 related to an ineffective control environment, ineffective risk assessment, and ineffective information and communication resulting from an insufficient number of trained resources with expertise in implementation and operation of internal control over financial reporting and information technology systems.
As a result, the Company had ineffective control activities related to the design and operation of process-level controls and general information technology controls across all financial reporting processes.
−Removed: These control deficiencies constitute material weaknesses in our internal control over financial reporting as of June 30, 2022.
+Added: These control deficiencies constitute material weaknesses in our internal control over financial reporting as of September 30, 2022.
Changes in Internal Control Over Financial Reporting
1 unchanged sentence
These plans include a detailed risk and controls assessment, key process walkthroughs and flowchart documentation, training, and execution of determined key controls.
−Removed: There were no material changes to our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended June 30, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: There were no material changes to our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended September 30, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Management’s Remediation Plans
3 unchanged sentences
We are monitoring the effectiveness of our remediation plans and will make the changes management determines to be appropriate.
−Removed: Steps taken by us during the three months ended June 30, 2022 include the following:
+Added: Steps taken by us during the three months ended September 30, 2022 include the following:
internal audit continued to assess and document the adequacy of internal control over financial reporting, document steps to improve control processes, conduct testing of controls, and implement continuous reporting for internal control over financial reporting;
−Removed: hired additional members to our accounting and finance team with the appropriate qualified experience in financial reporting, consolidations, technical accounting, and application of U.S.
+Added: continued hiring additional members to our accounting and finance team with the appropriate qualified experience in financial reporting, consolidations, technical accounting, and application of U.S.
enhanced controls, procedures, and processes in our financial consolidation and reporting processes;
10 unchanged sentences
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.