Company: GVH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052766
Chunk: 51

Company: Globavend Holdings Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 51
---
 year ended September 30,
2024, we have identified a material weakness in our internal control over financial reporting. As defined in the standards established
by the PCAOB, a “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will
not be prevented or detected on a timely basis.

<div align='center'>17</div>

The material weakness identified
relates to the lack of sufficient competent financial reporting and accounting personnel with appropriate understanding of U.S. GAAP
and SEC rules and regulations to address complex technical accounting issues and SEC reporting requirements. To remedy the identified
material weaknesses, we have implemented and will continue to implement several measures to improve our internal control over financial
reporting, including: (i) recruiting additional employees and external consultants with extensive knowledge of U.S. GAAP and
SEC financial reporting requirements within our finance and accounting department; (ii) setting up a comprehensive accounting policy,
checklists, and procedure manual in accordance 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 requires 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