2 unchanged sentences
Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934), as amended.
−Removed: Based upon that evaluation as of December 31, 2024, our Chief Executive Officer and Chief Financial Officer each concluded that, as of the end of such period, our disclosure controls and procedures were not effective due to the material weakness in our internal control over financial reporting, as described in Management's Report on Internal Control Over Financial Reporting in "Item 9A.
+Added: Based upon that evaluation as of March 31, 2025, our Chief Executive Officer and Chief Financial Officer each concluded that, as of the end of such period, our disclosure controls and procedures were not effective due to the material weakness in our internal control over financial reporting, as described in Management's Report on Internal Control Over Financial Reporting in "Item 9A.
Control and Procedures" in the Annual Report on Form 10-K for the year ended September 30, 2024.
4 unchanged sentences
The Latin America implementation was completed in the first quarter of fiscal year 2025.
−Removed: The implementation for India is expected to be completed in fiscal year 2025, subject to the timely receipt of the required government and health authority approvals.
+Added: The implementation for India is expected to be completed in the third quarter of fiscal year 2025, subject to the timely receipt of the required government and health authority approvals.
A standardized internal control framework is implemented as the Company moves away from relying on BD’s systems and controls.
2 unchanged sentences
Upon the identification of the material weakness, management immediately effectuated a plan to remediate the design and operation of the related control activities.
−Removed: The execution of this plan has commenced and will continue to progress through fiscal year 2025.
−Removed: Remediation activities include, but are not limited to the following actions:
−Removed: • reassess the design of processes and internal controls related to certain account reconciliations and certain analyses;
−Removed: • execute a robust and formal training program regarding diligence in control performance and Sarbanes-Oxley Act requirements and emphasis of certain finance policies;
−Removed: • implement enhanced oversight and governance over account reconciliations and certain financial analyses;
−Removed: • enhance control documentation and design to include additional procedures regarding confirmation of the completeness and accuracy of data used to perform controls and the precision of control activities;
−Removed: • leverage existing technology to develop enhanced reporting and to drive process efficiencies and automation.
+Added: The execution of this plan is in progress and will continue through completion.
+Added: Remediation activities in process include, but are not limited to the following actions:
+Added: • evaluating the design of processes and internal controls related to certain account reconciliations and certain analyses;
+Added: • executing a robust and formal training program regarding diligence in control performance and Sarbanes-Oxley Act requirements and emphasis of certain finance policies;
+Added: • implementing enhanced oversight and governance over account reconciliations and certain financial analyses;
+Added: • enhancing control documentation and design to include additional procedures regarding confirmation of the completeness and accuracy of data used to perform controls and the precision of control activities;
+Added: • leveraging existing technology to develop enhanced reporting and to drive process efficiencies and automation.
The Company is committed to remediating the material weakness.
−Removed: The actions are subject to ongoing management review, as well as oversight from the Audit Committee.
+Added: The ongoing actions are subject to management review, as well as oversight from the Audit Committee.
When fully implemented and operational, the Company believes the measures described above will remediate the underlying cause of the material weakness and will strengthen the Company's internal control over financial reporting.
5 unchanged sentences
The Company is working towards executing the remediation plan to address the material weakness.
−Removed: However, none of these efforts have resulted in the remediation of the material weakness as of December 31, 2024.
−Removed: There have been no changes in internal control over financial reporting during the three months ended December 31, 2024, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: However, none of these efforts have resulted in the remediation of the material weakness as of March 31, 2025.
+Added: There have been no changes in internal control over financial reporting during the three months ended March 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Dollar amounts are in millions except per share amounts or as otherwise specified.
1 unchanged sentence
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.