Item 8. Financial Statements and Supplementary Data
ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The
Consolidated Financial Statements that constitute Item 8 are included at the end of this report on page F-1.
ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
NetSol’s
financial statements for the fiscal years ended June 30, 2020 and June 30, 2019, did not contain an adverse opinion or disclaimer
of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
In
connection with the audit of NetSol’s financial statements for the fiscal year ended June 30, 2020, there were no disagreements,
disputes, or differences of opinion with BF Borgers CPA PC. (“BF Borgers”) on any matters of accounting principles
or practices, financial statement disclosure, or auditing scope and procedures, which, if not resolved to the satisfaction of
BF Borgers would have caused BF Borgers to make reference to the matter in its report.
In
connection with the audit of NetSol’s financial statements for the fiscal year ended June 30, 2019, there were no disagreements,
disputes, or differences of opinion with KSP Group, Inc. (“KSP”) on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope and procedures, which, if not resolved to the satisfaction of KSP would have
caused KSP to make reference to the matter in its report.
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