Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 1053

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 5
Chunk 1053
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 fiscal year 2025 were $19,500 and consisted of the preparation of the Company’s federal and state tax returns for the
fiscal year 2024. Tax fees for fiscal year 2024 were $19,000 and consisted of the preparation of the Company’s federal and state
tax returns for the fiscal year 2023.

48

All
Other Fees

No
other fees were paid to the principal accountant during the fiscal years 2025 and 2024.

Pre-Approval
Procedures

The
Audit Committee and the Board of Directors are responsible for the engagement of the independent auditors and for approving, in advance,
all auditing services and permitted non-audit services to be provided by the independent auditors. The Audit Committee maintains a policy
for the engagement of the independent auditors that is intended to maintain the independent auditor’s independence from NETSOL.
In adopting the policy, the Audit Committee considered the various services that the independent auditors have historically performed
or may be needed to perform in the future. The policy, which is to be reviewed and re-adopted at least annually by the Audit Committee:

(i) Approves
the performance by the independent auditors of certain types of service (principally audit-related and tax), subject to restrictions
in some cases, based on the Committee’s determination that this would not be likely to impair the independent auditors’ independence
from NETSOL;

(ii) Requires
that management obtain the specific prior approval of the Audit Committee for each engagement of the independent auditors to perform
other types of permitted services; and

(iii) Prohibits
the performance by the independent auditors of certain types of services due to the likelihood that their independence would be impaired.

Any
approval required under the policy must be given by the Audit Committee, by the Chair of the Committee in office at the time, or by any
other Committee member to whom the Committee has delegated that authority. The Audit Committee does not delegate its responsibilities
to approve services performed by the independent auditors to any member of management.

The
standard applied by the Audit Committee in determining whether to grant approval of an engagement of the independent auditors is whether
the services to be performed, the compensation to be paid therefore and other related factors are consistent with the independent auditors’
independence under guidelines of the Securities and Exchange Commission and applicable professional standards. Relevant considerations
include, but are not limited to, whether the work product is likely to be subject to, or implicated