What changed in this filing

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Item 4. Controls and Procedures

2020-09-18 compared with 2020-03-23 · 30 added, 17 removed, 12 unchanged (80% of the section changed)

2 unchanged sentences

officer), evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules

13a-15(e) and 15d-15(e) under the Exchange Act) as of January 31, 2020.

Based on that evaluation, our chief executive officer

(also working as our chief financial officer) concluded that the disclosure controls and procedures employed at the Company were

not effective to provide reasonable assurance that the information required to be disclosed by us in the reports that we file

or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified

in SEC rules and forms.

13a-15(e) and 15d-15(e) under the Exchange Act) as of July 31, 2020.

Based on that evaluation, management concluded that the disclosure

controls and procedures employed at the Company were not effective to provide reasonable assurance that the information required

to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed,

summarized and reported within the time periods specified in SEC rules and forms.

our annual report filed on Report 10-K for the year ended April 30 ,2020, management identified the following material weakness

in our internal control over financial reporting:

small size of our Company limits our ability to achieve the desired level of separation of duties for proper internal controls

and financial reporting, particularly as it relates to financial reporting to assure material disclosures or implementation

of newly issued accounting standards are included.

A secondary review over annual and quarterly filings does not occur.

to the departure of the Controller, the current CEO and CFO roles are being fulfilled by the same individual.

We do not have

an audit committee.

We do not believe we have met the full requirement for separation for financial reporting purposes.

continue to operate with a limited number of accounting and financial personnel.

A new accounting professional was hired in 2018

to fill the Controller position.

Continued training will be required to fulfill disclosure control and procedure responsibilities,

including review procedures for key accounting schedules and timely and proper documentation of material transactions and agreements.

Until sufficient training has taken place for this new Controller, we believe this control deficiency represents material weaknesses

in internal control over financial reporting.

the material weaknesses in financial reporting noted above, we believe that our condensed financial statements included

in this report fairly present our financial position, results of operations and cash flows as of and for the periods presented

in all material respects.

For the quarter ending July 31, 2020 the Company

did not have a Controller, but this position was filled in September 2020.

Training will be required to fulfill disclosure control

and procedure responsibilities, including review procedures for key accounting schedules and timely and proper documentation of

material transactions and agreements.

Until sufficient training has taken place for this new Controller, we believe this control

deficiency represents material weaknesses in internal control over financial reporting.

To mitigate the effects of the material

weakness identified in our annual report, the Company contracted with an outside CPA to perform a secondary review of

our quarterly report filed on Form 10-Q.

the material weaknesses in financial reporting noted above, we believe that our financial statements included in

this report fairly present our financial position, results of operations and cash flows as of and for the periods presented in

all material respects.

are committed to the establishment of effective internal controls over financial reporting and will place emphasis on quarterly

3 unchanged sentences

in Internal Control Over Financial Reporting

was no change in our internal control over financial reporting during the fiscal quarter ended January 31, 2020 that has materially

affected, or is reasonably likely to materially affect, our internal control over financial reporting.

than those mentioned above, there were no changes in our internal control over financial reporting during the fiscal quarter ended

July 31, 2020 that has materially affected, or is reasonably likely to materially affect, our internal control over financial

RISK INDUSTRIES, INC.

2 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.

What changed 10-Q

Item 4. Controls and Procedures