Company: AVD
Filing Date: 2025-05-29
Form Type: 10-K
Source: 0000950170-25-078615
Chunk: 20

Company: AMERICAN VANGUARD CORP
Filing Date: 2025-05-29
Form: 10-K
Item: Item 9A
Chunk 20
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 basis. Management has identified the following material weaknesses associated with the control environment, control activities and risk assessment components of the COSO framework:

•Control Environment – within the Company’s Australian component (AgNova), the Company identified that the individuals performing control activities within the component were not sufficiently trained or adequately supervised, and lacked appropriate reporting lines and accountability in accordance with principles of the COSO framework.  

•Control Activities – due to insufficient resources to facilitate a timely financial close process, the operation of internal controls over financial reporting specific to the controls being performed timely in accordance with principles of the COSO framework were not operating effectively. Further, within AgNova, the Company did not have sufficient segregation of duties in place in accordance with a principle of the COSO framework.