What changed in this filing

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Item 4. Controls and Procedures

2021-09-20 compared with 2021-03-17 · 31 added, 32 removed, 8 unchanged (89% of the section changed)

Controls and Procedures

management, under the supervision and with the participation of our chief executive officer (also working as our chief financial

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, 2021.

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.

management, under the supervision and with the participation of our chief executive officer (also working as our chief financial 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 July 31, 2021.

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, 2021, 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 occur with an outside party.

Due 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.

Controller was hired by the Company in September 2020.

Training is currently happening 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 further sufficient training has been completed for this new Controller, we believe this control deficiency

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

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

For the quarter ending July 31, 2021 the Company did

not have a Controller, but management is looking to fill this position as soon as possible.

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 consolidated 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

and year-end closing procedures, timely documentation and internal review of accounting and financial reporting consequences of

material contracts and agreements, and enhanced review of all schedules and account analyses by experienced accounting department

personnel or independent consultants.

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

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 and year-end

closing procedures, timely documentation and internal review of accounting and financial reporting consequences of material contracts

and agreements, and enhanced review of all schedules and account analyses by experienced accounting department personnel or independent

in 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

January 31, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial

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

31, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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