{"url_path":"/sec/fedu/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 CONTROLS AND PROCEDURES","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-17","source_url":"https://www.sec.gov/Archives/edgar/data/1709819/0001193125-26-273350-index.html","accession_number":"0001193125-26-273350","cik":"0001709819","ticker":"FEDU","issuer_name":"Four Seasons Education (Cayman) Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1709819/0001193125-26-273350-index.html","primary_entity_key":"0001709819","primary_entity_name":"Four Seasons Education (Cayman) Inc."},"word_count":803,"has_tables":true,"body_markdown":"ITEM 15. CONTROLS AND PROCEDURES\n\nDisclosure Controls and Procedures\n\nOur management, with the participation of our chief executive officer and vice president of finance, has performed an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this annual report, as required by Rule 13a-15(b) under the Exchange Act.\n\nBased upon that evaluation, our management has concluded that, as of February 28, 2026, our disclosure controls and procedures were not effective in ensuring that the information required to be disclosed by us in the reports that we file or submit under the Exchange Act was recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that the information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our chief executive officer and vice president of finance, to allow timely decisions regarding required disclosure, due to the presence of the significant deficiency that we lack sufficient and appropriate review over the financial reporting in accordance with U.S. GAAP.\n\n \n\n151\n\n \n\n[Table of Contents](#toc_page)\n\n \n\n \n\nManagement’s Annual Report on Internal Control over Financial Reporting\n\nOur management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) under the Exchange Act, for our company. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements in accordance with generally accepted accounting principles and 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 a company’s assets, (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that a company’s receipts and expenditures are being made only in accordance with authorizations of a company’s management and directors, and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company’s assets that could have a material effect on the consolidated financial statements. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP.\n\nBecause of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, 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. As required by Section 404 of the Sarbanes-Oxley Act and related rules as promulgated by the SEC, our management assessed the effectiveness of our internal control over financial reporting as of February 28, 2026, using criteria established in “Internal Control—Integrated Framework (2013)” issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, management concluded that our internal control over financial reporting was effective as of February 28, 2026.\n\nAttestation Report of the Registered Public Accounting Firm\n\nThis annual report on Form 20-F does not include an attestation report of our registered public accounting firm because our company is neither an accelerated filer nor a large accelerated filer, as such terms are defined in Rule 12b-2 under the Exchange Act.\n\nChanges in Internal Control over Financial Reporting\n\nManagement has evaluated, with the participation of our chief executive officer and vice president of finance, whether any changes in our internal control over financial reporting that occurred during our last fiscal year have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.\n\nAs discussed in our Annual Report on Form 20-F for the year ended February 28, 2025, our management concluded that there was a material weakness in our internal control over financial reporting, that we lack sufficient and appropriate review over the financial reporting in accordance with U.S. GAAP.\n\nFollowing the identification of the material weakness, we have taken measures to remediate the material weakness including but not limited to: (a) refining the relevant controls caliber and incorporate enhanced communication and documentation procedures for preparation of financial statements and (b) implementing additional supervision and review activities by qualified personnel and the development and use of checklists to assist in the financial reporting processes. During the fiscal year ended February 28, 2026, we have completed the design, implementation and testing of the newly designed and enhanced controls and determined that, as of February 28, 2026, the prior year’s material weakness has been remediated.\n\n \n\n152\n\n \n\n[Table of Contents](#toc_page)"}