Company: RKLIF
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001104659-25-027944
Chunk: 24

Company: RENTOKIL INITIAL PLC /FI
Filing Date: 2025-03-26
Form: 20-F
Item: Item 3
Chunk 24
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 significant reputational damage, distract management and technical personnel, increase our costs of doing business, adversely affect the demand for our products and services, and ultimately result in the imposition of liability, any of which could have a material adverse effect on our business, results of operations, financial condition and/or prospects.

14

Material weaknesses in our internal controls over financial reporting within the meaning of Section 404 of the Sarbanes-Oxley Act could adversely affect our ability to report our financial results accurately or in a timely manner, which may adversely affect our business and reputation.
We are required to comply with certain requirements under the Sarbanes-Oxley Act of 2002, as amended (the “Sarbanes-Oxley Act”), including the maintenance of adequate internal control over financial reporting. We are required to evaluate the effectiveness of our internal control over financial reporting and our independent registered public accounting firm is required to audit the effectiveness of our internal control over financial reporting in compliance with Section 404 of the Sarbanes-Oxley Act. While we have designed an internal control over financial reporting framework for the purposes of the effectiveness evaluation described above, if such controls fail, we may be subject to sanctions or investigations by regulatory authorities, including the U.S. Securities and Exchange Commission (the “SEC”) and the NYSE.
It should be noted that, prior to 2022, we identified errors to our financial statements, which resulted in a restatement of the relevant periods. In our Annual Report on Form 20-F/A for the year ended 31 December 2022 filed with the SEC on 8 February 2024, we reported disclosure errors to our financial statements resulting in a revision of the relevant periods. The prior restatement and revision each resulted from material weaknesses in our internal control over financial reporting, including a lack of sufficient resources with the appropriate level of technical accounting knowledge, combined with incomplete policies and procedures related to the segregation of duties and control activities required for accurate and timely financial accounting, reporting, and disclosures, and a failure to design and maintain effective IT controls over user access, change management, database management and segregation of duties for information systems that are relevant to the preparation of our financial statements. Additionally, as at 31 December 2023 we reported a material weakness in our internal control over financial reporting relating to the failure to design and maintain effective IT general controls, over user access, change management, database management and segregation of duties for information systems that are relevant to the preparation of our financial statements.
As of 31