Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 186

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 186
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 take advantage of certain exemptions from various reporting requirements that are applicable to other public
companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered
public accounting firm attestation requirement.

Prior to the closing of this
offering, we have not completed an assessment, nor have our auditors tested our systems, of internal controls. We expect to assess the
internal controls of our target business or businesses prior to the completion of our initial business combination and, if necessary,
to implement and test additional controls as we may determine are necessary in order to state that we maintain an effective system of
internal controls. A target business may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of
internal controls. Many small and mid-sized target businesses we may consider for our initial business combination may have internal
controls that need improvement in areas such as:

| ● | staffing for financial, accounting and external reporting 
 areas, including segregation of duties;                   |

| ● | reconciliation of accounts; |

| ● | proper recording of expenses and liabilities in the period 
 to which they relate;                                      |

| ● | evidence of internal review and approval of accounting transactions; |

| ● | documentation of processes, assumptions and conclusions underlying 
 significant estimates; and                                         |

| ● | documentation of accounting policies and procedures. |

Because it will take time, management
involvement and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements
and market expectations for our operation of a target business, we may incur significant expenses in meeting our public reporting responsibilities,
particularly in the areas of designing, enhancing, or remediating internal and disclosure controls. Doing so effectively may also take
longer than we expect, thus increasing our exposure to financial fraud or erroneous financing reporting.

Once our management’s report
on internal controls is complete, we will retain our independent auditors to audit and render an opinion on such report when required
by Section 404. The independent auditors may identify additional issues concerning a target business’s internal controls while
performing their audit of internal control over financial reporting.

Quantitative and Qualitative Disclosures about Market Risk

The net proceeds of this offering
and the sale of the placement units held in the trust account will be invested or held either (i) in U.S. government treasury bills with
a maturity of 185 days or less or in money market funds investing solely in U.S. Treasuries and