5 unchanged sentences
(b) Changes in internal controls over financial reporting.
−Removed: During the third quarter 2021, we completed the implementation of our SAP S/4HANA general ledger and enterprise resource planning system.
−Removed: The new system was subject to various testing and review procedures before, during and after implementation.
−Removed: As a result of this implementation, we have experienced certain changes to our processes and procedures which, in turn, resulted in changes to our internal control over financial reporting.
−Removed: Valley’s CEO and CFO have concluded that except for those changes there were no changes in Valley’s internal control over financial reporting in the quarter ended September 30, 2021 that have materially affected, or are reasonably likely to materially affect, Valley’s internal control over financial reporting.
−Removed: Valley has not experienced any material impact to its internal controls over financial reporting due to the fact that most of Valley’s employees responsible for financial reporting are working remotely during the COVID-19
−Removed: Valley is continually monitoring and assessing the impact of the COVID-19 pandemic on Valley’s internal controls over financial reporting to minimize the impact to their design and operating effectiveness.
+Added: Valley’s CEO and CFO have also concluded that there have not been any changes in Valley’s internal control over financial reporting in the quarter ended March 31, 2022 that have materially affected, or are reasonably likely to materially affect, Valley’s internal control over financial reporting.
Valley’s management, including the CEO and CFO, does not expect that our disclosure controls and procedures or our internal controls over financial reporting will prevent all errors and all fraud.
A system of internal control, no matter how well conceived and operated, provides reasonable, not absolute, assurance that the objectives of the system of internal control are met.
−Removed: The design of a system of internal control reflects resource constraints and the benefits of controls must be considered relative to their costs.
+Added: The design of a system of internal control reflects resource constraints and the
+Added: benefits of controls must be considered relative to their costs.
Because there are inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within Valley have been or will be detected.
9 unchanged sentences
There have been no material changes in the legal proceedings, if any, previously disclosed under Part I, Item 3 of Valley’s Annual Report on Form 10-K for the year ended December 31, 2021.
+Added: There have been no material changes in the risk factors previously disclosed in the section titled "Risk Factors" in Part I, Item 1A of Valley’s Annual Report on Form 10-K for the year ended December 31, 2021.
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.