Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 44

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 8
Chunk 44
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 Financial Reporting

Management’s
report on internal control over financial reporting. Our management recognizes its responsibility for establishing and maintaining
adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended.
Currently, the primary responsibility of the registrant is providing oversight control over its subsidiary operations which, in turn,
are managed by their respective boards of directors who are appointed by the registrant for each of the subsidiaries. All debit and credit
transactions with the company’s bank accounts, including those of the subsidiary companies, are reviewed by the officers as well
as all communications with the company’s creditors. The directors of the subsidiary companies, which include representatives of
the Company, meet frequently – as often as weekly – to discuss and review the financial status of the company and all developments.
All filings of reports with the Commission are reviewed before filing by all directors.

Our
internal control over financial reporting is a process designed by, or under the supervision of, our chief executive officer and chief
accounting officer, or persons performing similar functions, and effected by our board of directors, management and other personnel,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Our internal
control over financial reporting includes those policies and procedures that: (i) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and disposition of the assets of the Company; (ii) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP and that receipts and
expenditures of the Company are being made only in accordance with authorization of management and directors of the Company; and (iii)
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s
assets that could have a material effect on the financial statements.

Management
assessed the effectiveness of the Company’s internal control over financial reporting at the end of its most recent fiscal year,
June 30, 2025. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the
Treadway Commission in the 2013 Internal Control-Integrated Framework. Based on its evaluation, management has concluded that
the Company’s internal control over financial reporting was effective as of June 30,