15 unchanged sentences
Financial Officer determined, based upon the existence of the material weakness described below, that we did not maintain effective internal
−Removed: control over financial reporting as of September 30, 2022.
+Added: control over financial reporting as of March 31, 2023.
Specifically, we lack a sufficient number of professionals with an appropriate
2 unchanged sentences
Without such professionals, we did not design and maintain formal accounting policies,
−Removed: procedures and controls to achieve complete, accurate and timely financial accounting, reporting and disclosures, including controls over
−Removed: the preparation and review of account reconciliations and journal entries.
−Removed: The lack of adequate staffing levels resulted
−Removed: in insufficient time spent on review and approval of certain information used to prepare our financial statements and the maintenance
−Removed: of effective controls to adequately monitor and review significant transactions for financial statement completeness and accuracy.
−Removed: control deficiencies, although varying in severity, contributed to the material weakness in the control environment.
−Removed: If one or more material
−Removed: weaknesses persist or if we fail to establish and maintain effective internal control over financial reporting, our ability to accurately
−Removed: report our financial results could be adversely affected.
+Added: procedures and controls to achieve complete, accurate and timely financial accounting, reporting and disclosures, including controls
+Added: over the preparation and review of account reconciliations and journal entries.
+Added: The lack of adequate staffing levels and expertise
+Added: of unusual or infrequent transactions with complex or infrequently applied accounting topics resulted in the insufficient level of supervision,
+Added: review and approval of certain information used to prepare our financial statements and the maintenance of effective controls to adequately
+Added: monitor and review significant transactions for financial statement completeness and accuracy.
+Added: These control deficiencies, although varying
+Added: in severity, contributed to the material weakness in the control environment.
+Added: If one or more material weaknesses persist or if we fail
+Added: to establish and maintain effective internal control over financial reporting, our ability to accurately report our financial results
+Added: could be adversely affected.
The above material weakness did not result in
6 unchanged sentences
management will:
−Removed: Increase the number of accounting personnel;
−Removed: Engage third party experts to assist management in completing a comprehensive risk assessment to identify, design and implement control activities;
−Removed: Review and enhance business policies, procedures and related internal controls to standardize business processes.
−Removed: Due to resource constraints, as of September 30,
−Removed: 2022, we have not hired additional accounting staff.
−Removed: We plan to hire accounting personnel during 2023, and we expect to complete the remediation
−Removed: by the end of 2023.
+Added: the number of accounting personnel;
+Added: third party experts to assist management in completing a comprehensive risk assessment to identify, design and implement control activities;
+Added: and enhance business policies, procedures and related internal controls to standardize business processes.
+Added: We expect to complete the remediation by the
We expect to incur additional costs to remediate this weakness, primarily personnel costs.
1 unchanged sentence
There have been no changes in our internal control
−Removed: over financial reporting identified in connection with the evaluation that occurred during the quarter ended September 30, 2022 that have
+Added: over financial reporting identified in connection with the evaluation that occurred during the quarter ended March 31, 2023 that have
materially affected, or are reasonably likely to materially affect, the 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.