Company: ARBK
Filing Date: 2025-05-09
Form Type: 6-K
Source: 0001654954-25-005344
Chunk: 45

Company: Argo Blockchain Plc
Filing Date: 2025-05-09
Form: 6-K
Chunk 45
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, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:**

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We obtained an understanding of the group and parent company and the sector in which they operate to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management, industry research and application of cumulative audit knowledge and experience of the sector.

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We determined the principal laws and regulations relevant to the group and parent company in this regard to be those arising from:

o

Companies Act 2006

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Canada Business Corporations Act

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Securities Law

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Anti Money Laundering Legislation

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Disclosure Rules and Transparency rules for listed entities

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SEC regulations

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Local tax laws and regulations

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We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the group and parent company with those laws and regulations. These procedures included, but were not limited to:

o

A review of the Board minutes throughout the year and post year-end

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A review of the RNS announcements

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A review of general ledger transactions

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Discussion with management and internal legal counsel

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We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, the risk relating to the impairment assessment of property, plant and equipment and uncertain tax positions to be potential areas for management bias.

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As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to: the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is