1 unchanged sentence
Evaluation of Disclosure Controls and Procedures
−Removed: Foster Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of June 30, 2024.
−Removed: At the time of the filing of the Company’s Original Form 10-Q for the three and six months ended June 30, 2024 on August 6, 2024, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.
−Removed: Subsequent to that evaluation, on October 7, 2024, our Chief Executive Officer and Chief Financial Officer concluded that, due to a material weakness in our internal control over financial reporting described below, our disclosure controls and procedures were not effective as of June 30, 2024.
+Added: Foster Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of March 31, 2024.
+Added: At the time of the filing of the Company’s Original Form 10-Q for the three months ended March 31, 2024 on May 7, 2024, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.
+Added: Subsequent to that evaluation on October 7, 2024, our Chief Executive Officer and Chief Financial Officer concluded that, due to a material weakness in our internal control over financial reporting described below, our disclosure controls and procedures were not effective as of March 31, 2024.
Material Weakness in Internal Control over Financial Reporting
A material weakness is a deficiency, or a 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 consolidated financial statements will not be prevented or detected on a timely basis.
−Removed: We have identified the following unremediated material weakness in internal control over financial reporting as of June 30, 2024.
−Removed: Subsequent to the filing of the Company’s Original Form 10-Q for the quarterly period ended June 30, 2024, the Company concluded it did not design effective controls related to the accounting for, and disclosure of, non-recurring complex transactions as of June 30, 2024.
−Removed: This material weakness resulted in a material error in the Company’s previously issued Unaudited Condensed Consolidated Financial Statements as of and for the six months ended June 30,2024 included in the Original Form 10-Q leading to the restatement of these financial statements in this Amended Form 10-Q.
+Added: We have identified the following unremediated material weakness in internal control over financial reporting as of March 31, 2024.
+Added: Subsequent to the filing of the Company’s Original Form 10-Q for the three months ended March 31, 2024, the Company concluded it did not design effective controls related to the accounting for, and disclosure of, non-recurring complex transactions as of March 31, 2024.
+Added: This material weakness resulted in a material error in the Company’s previously issued Unaudited Condensed Consolidated Financial Statements as of and for the three months ended March 31, 2024 included in the Original Form 10-Q leading to the restatement of these financial statements in this Amended Form 10-Q.
Management’s Remediation Efforts
5 unchanged sentences
Changes in Internal Control Over Financial Reporting
−Removed: Other than the material weakness described above, there were no changes to our “internal control over financial reporting” (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three and six months ended June 30, 2024, and that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Other than the material weakness described above, there were no changes to our “internal control over financial reporting” (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended March 31, 2024, and that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Limitations on Effectiveness of Controls and Procedures
8 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.