Controls and Procedures
−Removed: Spectrum Brands Holdings, Inc.
Evaluation of Disclosure Controls and Procedures.
2 unchanged sentences
Changes in Internal Control Over Financial Reporting.
−Removed: There was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities and Exchange Act of 1934, as amended) that occurred during the nine month period ended June 30, 2024, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
+Added: The Company is in the process of a multi-year implementation of a new global enterprise resource planning (“ERP”) system.
+Added: During the three month period ended December 29, 2024 the Company implemented the new ERP system within its GPC business in North America.
+Added: The new ERP system replaced a legacy system in which a significant portion of our business transactions originated, were processed, or were recorded.
+Added: As a result, we modified and removed certain existing internal controls as well as implemented new controls and procedures impacted by the implementation of the new ERP system.
+Added: The new ERP system is intended to provide us with enhanced transactional processing, security, and management tools and is intended to enhance internal controls over financial reporting.
+Added: As the project continues, the Company continues to emphasize the maintenance of effective internal controls and assessment of the design and operating effectiveness of key control activities throughout the development and deployment of each phase.
+Added: Except as described above, there have been no changes in the Company's internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934 as amended) that occurred during the three month period ended December 29, 2024 that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.
Limitations on the Effectiveness of Controls.
5 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.