Company: IVHI
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001683168-25-001303
Chunk: 17

Company: Invech Holdings, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 17
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 of financial
statements for external purposes in accordance with generally accepted accounting principles in the United States of America. Our internal
control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and
directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the Company’s assets that could have a material effect on the financial statements.

Despite these controls, because of its inherent
limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined
to be effective can provide only reasonable assurance of achieving their control objectives. Furthermore, smaller reporting companies
like us face additional limitations. Smaller reporting companies employ fewer individuals and can find it difficult to employ resources
for complicated transactions and effective risk management. Additionally, smaller reporting companies tend to utilize general accounting
software packages that lack a rigorous set of software controls.

Our management assessed the effectiveness
of our internal control over financial reporting as of September 30, 2024 and concluded as a result of material weaknesses in our internal
control over financial reporting, our disclosure controls and procedures were not effective as of September 30, 2024 The ineffectiveness
of our disclosure controls and procedures was due to the following material weaknesses our internal control over financial reporting,
which are common to many small companies: (1) lack of sufficient personnel commensurate with the Company’s reporting requirements;
(2) the Company did not consistently establish appropriate authorities and responsibilities in pursuit of the Company’s financial
reporting objectives; and (3) insufficient written documentation or training of internal control policies and procedures which provide
staff with guidance or framework for accounting and disclosing financial transactions (4) the Company has only one officer and director.

If we fail to have effective controls and
procedures for financial reporting in place, we could be unable to provide timely and accurate financial information and be subject to
investigation by the Securities and Exchange Commission (the “SEC”) and civil or criminal sanctions.

Because our directors and executive
officers are among our largest stockholders, they can exert significant control over our business