11 unchanged sentences
connection with the filing of our Form 10-K for the year ended March 31, 2021, we identified a material weakness primarily related to
−Removed: the consolidated financial statements close process that failed to detect errors which could have been material in the accounting for
+Added: the consolidated financial statement close process that failed to detect errors which could have been material in the accounting for
inventory cutoff and the inventory valuation of estimated returns.
7 unchanged sentences
Company has identified and will implement plans to enhance the Company’s process and controls including the following measures:
−Removed: Company implemented a new Enterprise Resource Planning (“ERP”) system in Fiscal 2021 that contributed to the material
−Removed: Management has identified system processing errors specifically related to when returned goods are recognized in inventory
−Removed: and how they are costed.
−Removed: Management is currently working with our third-party systems support group to correct these system errors.
−Removed: plans on strengthening the ERP system training for both finance and warehouse personnel with regards to inventory cutoff and valuation
−Removed: procedures to insure personnel working with inventory are thoroughly familiar with procedures for processing returns.
−Removed: will also assess whether current resources are adequate to maintain proper inventory controls once the system errors have been remediated
−Removed: and additional training is completed and will explore the possibility of additional third-party assistance if necessary.
+Added: Company implemented a new Enterprise Resource Planning (“ERP”) system in Fiscal
+Added: 2021 that contributed to the material weaknesses.
+Added: Management has identified system processing
+Added: errors specifically related to when returned goods are recognized in inventory and how they
+Added: Management is currently working with our third-party systems support group to
+Added: correct these system errors.
+Added: plans on strengthening the ERP system training for both finance and warehouse personnel with
+Added: regards to inventory cutoff and valuation procedures to insure personnel working with inventory
+Added: are thoroughly familiar with procedures for processing returns.
+Added: will also assess whether current resources are adequate to maintain proper inventory controls
+Added: once the system errors have been remediated and additional training is completed and will
+Added: explore the possibility of additional third-party assistance if necessary.
Changes in Internal Controls
−Removed: were no changes in the Company’s internal controls over financial reporting during the quarter ended June 30, 2021, that materially
+Added: were no changes in the Company’s internal controls over financial reporting during the quarter ended September 30, 2021, that materially
affected, or were reasonably likely to materially affect the Company’s internal control over financial reporting.
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.