What changed in this filing

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Item 4. Controls and Procedures

2025-11-05 compared with 2025-05-07 · 115 added, 43 removed, 32 unchanged (83% of the section changed)

5 unchanged sentences

promulgated under the Securities Exchange Act of 1934, as amended, as of

March 31, 2025.

September 30, 2025.

We previously identified and disclosed in Part II, Item 9A of our Annual Report on Form 10-K for the

year ended June 30, 2025,

material weaknesses in our internal control over financial reporting

(1) information technology general controls (“ITGCs”),

material weaknesses in our internal control over financial reporting related

organizations,

implementation

program-change

financial reporting processes and (2) insufficient design and implementation of controls and associated policies

and procedures in our

annual goodwill impairment assessment.

A material weakness is a deficiency,

or combination of deficiencies, in internal control

financial reporting such

reasonable possibility that

a material misstatement

of our annual

consolidated financial

statements will not be prevented or detected on a timely basis.

organizations,

information used within the process;

Our payroll process, specifically

insufficient risk assessment

and monitoring activities relating

to changes over the

organizations,

insufficient design

and implementation

of ITGCs, controls

over service organizations

resulting in ineffective

process level

including a lack of validation of the completeness and accuracy of information used

within this process;

goodwill impairment

to insufficient

risk assessments,

implementation of controls resulting in ineffective process level

Our business combination

process, specifically insufficient

risk assessments, and

ineffective design

and implementation of

purchase price

allocation of

and Recharger

acquisitions including

controls over

information resulting in ineffective process level controls including a lack of validation of the completeness and accuracy

information used;

specifically insufficient risk assessment and ineffective design and implementation of

controls related to our judgement over

revenue recognized

either as principal

versus as agent

ineffective controls

and a material

misstatement as well

as the requirement to restate revenue, cost of goods sold, IT processing, servicing and support and related disclosures for all

quarters as described below;

entry process, specifically

insufficient risk

assessments, and

ineffective design

and implementation

of controls including insufficient controls over information resulting in ineffective process level controls including a lack of

validation of the completeness

of the journal entry

population and a lack of

validation of the completeness

and accuracy of

information used within the process;

An insufficient number of experienced and trained resources and an insufficient understanding

of the application of internal

controls over

financial reporting

across the Southern

African businesses resulting

in ineffective

design, implementation

As a result of

insufficient time to design, implement and fully

test controls to ensure we

have remediated

the material weaknesses

insufficient time to design, implement and

fully test controls to

ensure we have remediated the

material weaknesses

discussed in our

5 unchanged sentences

above), the executive

and the group chief financial officer concluded

that our disclosure controls and procedures were not effective as of

March 31, 2025.

financial officer

concluded that

our disclosure

procedures were

not effective

Notwithstanding

8 unchanged sentences

Management has made

good progress

and continues to

actively work

progress and continues

to actively work

on remediating the

identified material weakness

identified material weaknesses

remediating the

material weaknesses

timely manner.

Our remediation

includes, but

process is ongoing

and includes,

limited to, the following steps:

implementation

weaknesses identified above;

the review and implementation of changes to the design of the controls related

to the goodwill impairment assessment.

comprehensive

accountability

the principles

and requirements

control, with

organizations, ITGCs, other process level controls;

mandating improved risk assessment procedures with governance requirements upon implementing new systems within our

company together with the design, implementation and monitoring

of control activities;

the recruitment of additional

appropriately skilled resources

across the Finance

Compliance disciplines coupled

with the further upskilling and training of existing resources responsible

for the execution of key controls as well as a focus

on a greater degree of automation of controls throughout the organization;

embedding of controls compliance in the key performance indicators of

senior executives across the business;

collaborating closely with internal and external assurance partners to ensure

the robustness of our remediation plan.

The remediation plan

may be adjusted

as is appropriate,

as we continue

to evaluate and

enhance our internal

control over financial

Other than the

design and implementation of

the remediation plan, there

have not been any

changes in our internal control

materially affect, our internal control over financial reporting.

with respect to the

material weaknesses identified for

the year ended June

30, 2025 may be

adjusted as is

implementation of

the remediation

financial reporting

fiscal quarter ended September

30, 2025, that have

materially affected, or are

reasonably likely to materially

affect, our internal control

ver financial reporting.

Other Information

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.

What changed 10-Q

Item 4. Controls and Procedures