Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 54

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 3
Chunk 54
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 plans in regard to this matter are also
described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or
fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides
a reasonable basis for our opinion.

    /s/
    J&S Associate PLT

    Certified
    Public Accountants

    PCAOB
    Number: 6743

    January
    14, 2025

    Malaysia

We
have served as the Company’s auditor since 2021.

F-2

KUN
PENG INTERNATIONAL LTD.

CONSOLIDATED
BALANCE SHEET

    September 30, 

    Note 
    2024  
    2023 
  
    Assets 

    Current assets 

    Cash and cash equivalents 
      
    $82,184  
    $457,580 
  
    Advance and prepayments 
    4 
     178,