Create Internal Control Report

Can you prepare an internal control report for Kova Technology Limited (stock code 1234.HK) for the year ended 31 March 2025? We've attached the governance documentation package including board minutes, committee minutes, policies, and procedures. The fieldwork was performed in May and June 2025. The business cycles in scope this year are Revenue & Receivables and Cash/Treasury Management.

Reading the input documentation and reference frameworks... I'm reviewing the governance documentation package for Kova Technology Limited against: 1. **HKEx Corporate Governance Code (Appendix C1)** — mapping all 13 entity-level control points to the mandatory disclosure requirements and code provisions 2. **COSO 2013 Internal Control Framework** — assessing control environment, risk assessment, control activities, information & communication, and monitoring 3. **Business-level controls** — Revenue & Receivables and Cash/Treasury Management cycles per the 3-year rolling plan I can see the Board has 7 directors with 3 INEDs (meeting the one-third requirement), all three committees are properly constituted, and there's a comprehensive set of policies. Let me now assess each control point against the evidence provided and draft the report following the standard IC review report format.

I've completed the internal control review report for Kova Technology Limited for FY2025. Here's a summary: **Scope:** All 13 entity-level controls + 2 business cycles (Revenue & Receivables, Cash/Treasury Management) **Overall Assessment: Effective** — with minor improvements recommended **Key Findings:** - **12 of 13 entity-level controls** — no non-compliance or weaknesses identified - **1 Medium finding (1.5 ESG):** The Group publishes an ESG report but has not formalised a standalone ESG governance framework. Recommended establishing an ESG working group and board-approved ESG policy by Q3 FY2026. - **All Revenue & Receivables controls** — operating effectively, proper approval matrices and HKFRS 15 compliance confirmed - **1 Medium finding (2.2.2 Bank Reconciliation):** Reviewer sign-off on bank reconciliations was not consistently completed within 5 business days — 2 of 9 reconciliations had delayed sign-off. Recommended implementing a tracking log. Management has agreed with both recommendations and provided target resolution dates. The full report is attached below.