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Disclosure controls and procedures include, without limitation, controls and procedures designed to reasonably ensure that information required to be disclosed by us in the reports filed under the Exchange Act is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
−Removed: As required by SEC rules, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of February 28, 2022.
+Added: As required by SEC rules, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of May 31, 2022.
This evaluation was carried out under the supervision and with the participation of management, including the principal executive officer and principal financial officer.
−Removed: Based on this evaluation, these officers have concluded that the design and operation of our disclosure controls and procedures are effective at a reasonable assurance level as of February 28, 2022.
+Added: Based on this evaluation, these officers have concluded that the design and operation of our disclosure controls and procedures are effective at a reasonable assurance level as of May 31, 2022.
However, because all disclosure procedures must rely to a significant degree on actions or decisions made by employees throughout the organization, such as reporting of material events, the Company and its reporting officers believe that they cannot provide absolute assurance that all control issues and instances of fraud or errors and omissions, if any, within the Company will be detected.
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Because of these limitations, misstatements due to error or fraud may occur and may not be detected.
−Removed: During the second half of fiscal 2021, we acquired Rockpile Ventures and ams OSRAM's North American Digital Systems business (“OSRAM DS”), collectively the (“2021 Acquisitions”).
+Added: During the fourth quarter of fiscal 2021, we acquired ams OSRAM's North American Digital Systems business (“OSRAM DS”).
SEC guidance permits management to omit an assessment of an acquired business' internal control over financial reporting from management's assessment of internal control over financial reporting for a period not to exceed one year from the date of the acquisition.
−Removed: Accordingly, management has not assessed the 2021 Acquisitions' internal control over financial reporting as of February 28, 2022.
−Removed: We began integrating the 2021 Acquisitions into our existing control procedures from their respective dates of acquisition.
−Removed: We do not anticipate the integration of the acquired companies to result in changes that would materially affect our internal control over financial reporting.
−Removed: As of and for the three and six months ended February 28, 2022, the 2021 Acquisitions constituted less than 4% of each of the Company’s consolidated assets, stockholders' equity, net sales, and pre-tax income.
+Added: Accordingly, management has not assessed the internal controls over financial reporting for OSRAM DS as of May 31, 2022.
+Added: We began integrating OSRAM DS into our existing control procedures from the date of acquisition.
+Added: We do not anticipate the integration of the acquired company to result in changes that would materially affect our internal control over financial reporting.
+Added: As of and for the three and nine months ended May 31, 2022, the OSRAM DS acquisition constituted less than 5% of each of the Company’s consolidated assets, stockholders' equity, net sales, and pre-tax income.
There have been no changes in our internal control over financial reporting that occurred during our most recent completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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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.