Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 128

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 1A
Chunk 128
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R includes
policies and procedures that: pertain to the maintenance of records that, in reasonable detail accurately and fairly reflect the transactions
and disposition of assets; provide reasonable assurance that transactions are recorded as necessary to permit preparation of the consolidated
financial statements in accordance with US GAAP, and that receipts and expenditures are being made only in accordance with authorization
of management and directors of the Company; and provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of assets that could have a material effect on the consolidated financial statements.

Because
of their inherent limitations, ICFR can provide only reasonable assurance and may not prevent or detect misstatements. Furthermore, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Change
in ICFR

In
connection with the audit of our financials for the year ended September 30, 2024, the Company’s auditors noted material weaknesses
and made certain recommendations to management regarding material weaknesses related to 1. lack of proper controls over financial reporting
of unusual and complex transactions; 2. no formal codes of conduct (the “2024 Material Weaknesses”).

In
connection with the 2024 Material Weaknesses, the Company has allocated resources to its remediation plan and implemented additional
controls this year.

As
of September 30, 2025, management believes that we are making progress to remediate the 2024 Material Weaknesses relating to its lack
of proper controls over financial reporting of unusual and complex transactions. However, other than as described in the preceding paragraph,
there were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.

Evaluation
of Effectiveness of ICFR

The
Company’s management (with the participation of the CEO and the CFO) conducted an evaluation of the effectiveness of the Company’s
internal control over financial reporting as of September 30, 2025. In making this assessment, management used the criteria established
in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, or COSO. The
COSO framework summarizes each of the components of a company’s internal control system, including (i) the control environment,
(ii) risk assessment, (iii