Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 326

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 9A
Chunk 326
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 previously released financial results. The Company’s independent registered public accounting firm that audited the consolidated financial statements included in this Annual Report also audited the effectiveness of our internal control over financial reporting and has issued an adverse report on the effectiveness of the Company’s internal control over financial reporting as of September 30, 2025, as set forth in their report in Item 8.

Remediation of the Material Weaknesses in Internal Control Over Financial Reporting

As of the date of this Annual Report on Form 10-K, management has updated the design of several controls and modified process designs in an effort to improve our internal control over financial reporting and remediate the control deficiencies that led to the material weaknesses, described above. Management's efforts have resulted in the effective design and management's testing has determined the effective operation of ITGCs over the enterprise resource planning system in which the discovery and safety assessment business, as well as certain corporate functions, operate and thus deemed remediated for fiscal 2025. Additionally, Management's efforts have resulted in the effective design and management's testing has determined the effective operation of ITGCs in connection with certain third party hosted applications utilized 

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in connection with certain processes (e.g., equity-based compensation, payroll) and thus deemed remediated for fiscal 2025. 

Furthermore, Management remediated design and operating deficiencies for some business processes and made progress on the design of controls related to other business processes in connection with our discovery and safety assessment business and certain corporate functions. Management performed testing over the related business processes covering fiscal 2025. While certain controls within the related business processes were tested and determined to be operating effectively throughout fiscal 2025, the material weaknesses related to our business processes over financial reporting cannot be considered completely remediated until the aggregate of the applicable controls, including the ITGCs discussed above, operate effectively for a sufficient period of time. The operating effectiveness of the aggregate of the applicable controls was not deemed sufficient to completely remediate the material weaknesses for fiscal 2025.

However, there remain several controls and processes related to ITGCs and business processes that management continues to re-assess, including the design of controls and modifying processes to improve our internal control over financial reporting. Management’s remediation efforts have included but are not limited to: (i) hiring additional accounting personnel, (ii) hiring key IT personnel with appropriate technical and internal control-related skillsets, and (iii) utilizing an internal team dedicated to oversight of control and process design. Management’s ongoing