Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 412

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 7
Chunk 412
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 and procedures were not
effective to provide reasonable assurance that the information required to be disclosed in reports filed or submitted under the Exchange
Act is: (i) recorded, processed, summarized, and reported within the time periods specified by the SEC’s rules and forms; and (ii)
accumulated and communicated to management, including the Company’s principal executive and principal financial officers, or other
personnel performing similar functions, as appropriate to enable timely decisions regarding required disclosures. This conclusion reflects
the compensating processes and oversight implemented by management, which management believes help mitigate, but do not eliminate, the
material weaknesses.

Management’s
Report on Internal Control over Financial Reporting

The
Company’s management, including the Company’s CEO and CFO, is responsible for establishing and maintaining adequate internal
control over financial reporting (“ICFR”), as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange
Act. The Company’s ICFR is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of consolidated financial statements for external purposes in accordance with US GAAP. The Company’s ICFR 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 Weak