2 unchanged sentences
It is management’s responsibility to establish and maintain “disclosure controls and procedures” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934.
−Removed: Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report.
−Removed: In designing and evaluating our disclosure controls and procedures.
−Removed: Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only
−Removed: reasonable assurance of achieving the desired control objectives, and management necessarily is required to apply its judgment in evaluating the relationship between the benefit of desired controls and procedures and the cost of implementing new controls and procedures.
+Added: Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, has reviewed and evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report.
+Added: In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily is required to apply its judgment in evaluating the relationship between the benefit of desired controls and procedures and the cost of implementing new controls and procedures.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
1 unchanged sentence
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.
−Removed: Management has assessed the effectiveness of our internal control over financial reporting as of July 31, 2021, and concluded that, due to the weakness we identified below, our disclosure controls and procedures are not effective.
+Added: Management has assessed the effectiveness of our internal control over financial reporting as of October 31, 2021, and concluded that, due to the weakness we identified below, our disclosure controls and procedures are not effective.
Our risk assessment procedures over certain of our contractual arrangements requiring the payment of royalties for the licensing of technology from third-parties did not adequately identify the risks and consider the Company’s obligations based on the recognition of oncology services revenue.
1 unchanged sentence
Remediation Plan
−Removed: The Company’s management had begun to design and implement certain measures to address the above-described material weakness and enhance the Company’s internal control in order to remediate this material weakness.
−Removed: As part of our remediation measures, the Company will implement plans to enhance the Company’s process and controls including ensuring adequate identification and review of royalty agreement terms and obligations which are still being formalized as of the date of this quarterly Form 10-Q.
+Added: The Company’s management has begun to design and implement certain measures to address the above-described material weakness and enhance the Company’s internal control in order to remediate this material weakness.
+Added: As part of our remediation measures, the Company will continue to implement plans to enhance the Company’s process and controls including ensuring adequate identification and review of royalty agreement terms and obligations which have been formalized as of the date of this quarterly Form 10-Q.
Notwithstanding such material weakness in internal control over financial reporting, our management concluded that our consolidated financial statements in this quarterly report on Form 10-Q present fairly, in all material respects, the Company’s financial position, results of operations and cash flows as of the dates, and for the periods presented, in conformity with U.S.
5 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.