Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 164

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 15
Chunk 164
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Item 15. CONTROLS AND PROCEDURES

  DISCLOSURE CONTROLS AND PROCEDURES  

We have evaluated, with the participation of our Chief Executive Officer
and Chief Financial Officer, the effectiveness of the Group’s disclosure controls and procedures (as defined in Rule 13a-15(e) of
the Exchange Act, as amended) as at February 28, 2025. Based on that evaluation, we concluded that, as at such date, as a result of the
material weaknesses in our internal control over financial reporting described below, our disclosure controls and procedures were not
effective to ensure that the information required to be disclosed by us in reports that we file or submit under the Exchange Act is accumulated
and communicated to our management, including our Chief Executive Officer and our Chief Financial Officer, to allow timely decisions regarding
required disclosures, and is recorded, processed, summarized and reported within the time periods specified by the SEC’s rules and
forms.

Notwithstanding such material
weaknesses in our internal control over financial reporting, our management, including our principal executive officer and principal financial
officer, concluded that our consolidated financial statements in this Annual Report present fairly, in all material respects, our financial
position, results of operations and cash flows for the periods presented, in accordance with IFRS as issued by the IASB.

  MANAGEMENT’ S ANNUAL REPORT ON INTERNAL CONTROL OVER  

Management of Karooooo is responsible
for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities
Exchange Act of 1934, as amended, for the Company. Karooooo’s internal control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of Karooooo’s financial reporting and the preparation and fair presentation
of financial statements for external purposes in accordance with IFRS as issued by the IASB.

Karooooo’s 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 dispositions of our assets; (ii) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in accordance with IFRS, and that receipts and expenditures are being
made only in accordance with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or disposition of assets that could have a material