Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 221

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 15
Chunk 221
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Item
15. Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures

As
required by Rule 13a-15 under the Exchange Act, management, including our chief executive officer and our chief financial officer, has
evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this annual report. Disclosure
controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports
we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules
and forms of the SEC. Disclosure controls and procedures include, without limitations, controls and procedures designed to ensure that
information required to be disclosed by us in our reports that we file or submit under the Exchange Act is accumulated and communicated
to management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate
to allow timely decisions regarding our required disclosures.

Based on the foregoing, our
chief executive officer and our chief financial officer have concluded that, as of June 30, 2025, our disclosure controls and procedures
were ineffective. Notwithstanding our management’s assessment that our internal control over financial reporting was ineffective
as of June 30, 2025, we believe that the consolidated financial statements included in this report on Form 20-F correctly present our
financial position, results of operations and cash flows for the fiscal years covered thereby in all material respects.

Management’s
Annual Report on Internal Control over Financial Reporting and Attestation Report of the Registered Public Accounting Firm

This
report does not include a report of management’s assessment regarding internal control over financial reporting or an attestation
report of the company’s registered public accounting firm due to a transition period established by rules of the SEC for newly
public companies.

Internal Control Over Financial Reporting

In connection with the audit
of our consolidated financial statements included in this report, we identified several material weaknesses in our internal control over
financial reporting. As defined in the standards established by the U. S. Public Company Accounting Oversight Board, a “material
weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on
a timely basis.

The material weaknesses identified
related to (i) a lack of sufficient financial reporting and accounting personnel with appropriate knowledge of U. S. GAAP and SEC