Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 35

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 35
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 to continue as a going concern, which contemplated, among other things, the realization of assets and satisfaction of liabilities
in the ordinary course of business. During the fiscal years ended September 30, 2024 and 2023 and the subsequent interim period through
March 28, 2025, the effective date of CR’s dismissal, there were (i) no disagreements (as that term is defined in Item 304(a)(1)(iv)
of Regulation S-K and the related instructions) between the Company and CR on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of CR would have caused CR to make reference
thereto in its reports on the financial statements of the Company for such years, and (ii) no “reportable events” (as that
term is defined in Item 304(a)(1)(v) of Regulation S-K).

Recommendation of the Board

The Board recommends a vote “FOR”
the ratification of the appointment of our independent registered public accounting firm proposal.

Audit Committee

The Audit Committee, which as
of the date of this proxy statement consists of Sangita Shah, Sharon Hrynkow, and Keith Johnson, reviews Forward’s financial reporting
process on behalf of the Board and administers our engagement of the independent registered public accounting firm. The Audit Committee
meets with the independent registered public accounting firm, with and without management present, to discuss the results of its examinations,
the evaluations of our internal controls, and the overall quality of our financial reporting. Management has the primary responsibility
for the financial statements and the reporting process, including the system of internal controls.

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The Audit Committee met and held
discussions with management and CR. Management represented to the Audit Committee that our financial statements were prepared in accordance
with accounting principles generally accepted in the United States of America (“US GAAP”), and the Audit Committee reviewed
and discussed the financial statements with management and CR. The Audit Committee reviewed with CohnReznick LLP its judgments as to the
quality, not just the acceptability, of our accounting principles and such other matters as are required to be discussed with the Audit
Committee in accordance with the standards of the Public Company Accounting Oversight Board, which we refer to as the “PCAOB.”

Audit Committee Report

The Audit Committee has:

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 · | reviewed and discussed the audited financial statements with management;                                                                                                                                                                   
 met privately with CR,