Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 48

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 48
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 with U. S. GAAP and SEC financial reporting requirements; (iii) implementing new closing
and reporting procedures to ensure the accuracy and adequacy of financial data for the preparation of financial statements; (iv) conducting
regular and continuous U. S. GAAP training programs and webinars for our financial reporting and accounting personnel; (v) improving financial
oversight function for handling complex accounting issues under U. S. GAAP; and (vi) continuously developing and enhancing our internal
audit function for the financial reporting matters. However, we cannot assure you that these measures may fully address the material
weakness in our internal control over financial reporting or that we may not identify additional material weaknesses or significant deficiencies
in the future.

Section 404 of the
Sarbanes-Oxley Act, or Section 404, will require us to include a report from management on the effectiveness of our internal control
over financial reporting in our annual report on Form 20-F beginning with our annual report for the fiscal year ending September 30,
2024. In addition, once we cease to be an “emerging growth company” as such term is defined in the JOBS Act, our independent
registered public accounting firm must attest to and report on the effectiveness of our internal control over financial reporting. Our
management may conclude that our internal control over financial reporting is not effective. Moreover, even if our management concludes
that our internal control over financial reporting is effective, our independent registered public accounting firm, after conducting
its own independent testing, may issue an adverse report if it is not satisfied with our internal control or the level at which our control
is documented, designed, operated, or reviewed, or if it interprets relevant requirements differently from us.

In addition, our internal
control over financial reporting will not prevent or detect all errors and all fraud. A control system, no matter how well designed and
operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Because of the
inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error
or fraud will not occur or that all control issues and instances of fraud will be detected.

If we fail to meet applicable listing
requirements, Nasdaq may delist our Ordinary Shares from trading, in which case the liquidity and market price of our Ordinary Shares
could decline.

Assuming our Ordinary
Shares are listed on Nasdaq, we cannot assure you that we will be