{"url_path":"/sec/ftrk/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":"2026-06-30","source_url":"https://www.sec.gov/Archives/edgar/data/2027262/0001493152-26-031197-index.html","accession_number":"0001493152-26-031197","cik":"0002027262","ticker":"FTRK","issuer_name":"Fast Track Group","edgar_url":"https://www.sec.gov/Archives/edgar/data/2027262/0001493152-26-031197-index.html","primary_entity_key":"0002027262","primary_entity_name":"Fast Track Group"},"word_count":795,"has_tables":true,"body_markdown":"**ITEM\n15. CONTROLS AND PROCEDURES**\n\n \n\n**a.\nDisclosure Controls and Procedures**\n\n \n\nOur\nmanagement, with the participation of our chief executive officer and chief financial officer, has performed an evaluation of the effectiveness\nof 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\nthis Annual Report, as required by Rule 13a-15(b) under the Exchange Act.\n\n \n\nBased\nupon that evaluation, our management has concluded that, as of February 28, 2026, our disclosure controls and procedures were not effective\nas our management has identified a material weakness that is related to our lack of sufficient financial reporting and accounting personnel\nwith appropriate knowledge of the generally accepted accounting principles in the United States (“U.S. GAAP”) and SEC reporting\nrequirements to properly address complex U.S. GAAP accounting issues and to prepare and review our consolidated financial statements\nand related disclosures to fulfill U.S. GAAP and SEC financial reporting requirements.\n\n \n\nTo remedy our identified material weakness, we have\nadopted and plan to continue to adopt certain measures to improve our internal control over financial reporting, including (1) hiring\nmore qualified accounting personnel with extensive experience and knowledge in handling U.S. GAAP and SEC financial reporting requirements;\n(2) providing regular and appropriate trainings for our accounting staff, especially trainings related to U.S. GAAP and SEC reporting\nrequirements; and (3) setting up performance measurement and reward plan for our accounting staff aligning with our objective of internal\ncontrol over financial reporting and our ethical value. However, the implementation of these measures may not fully address these weaknesses\nand deficiencies in our internal control over financial reporting, and we cannot conclude that they have been fully remedied. Our failure\nto correct these weaknesses and deficiencies or our failure to discover and address any other weakness and deficiencies could result in\ninaccuracies in our financial statements and impair our ability to comply with applicable financial reporting requirements and related\nregulatory filings on a timely basis. Moreover, ineffective internal control over financial reporting could significantly hinder our ability\nto prevent fraud.\n\n \n\nAs of the date of this report, the Company has initiated\nthe remediation plan and is in the process of implementing the identified measures. Specifically, the Company has begun recruiting additional\nqualified accounting personnel with U.S. GAAP and SEC reporting experience and has conducted targeted training programs for existing staff.\nIn addition, the Company is developing performance evaluation and incentive mechanisms to further strengthen internal control awareness\nand accountability.\n\n \n\nThe remediation efforts are ongoing, and the Company\nexpects to continue implementing and refining these measures throughout fiscal year 2027. While progress has been made, the material weakness\nhas not yet been fully remediated, as sufficient time is required to evaluate the operating effectiveness of the newly implemented controls.\nThe Company will continue to monitor the effectiveness of these measures and make necessary adjustments as appropriate.\n\n \n\nAt this stage, the Company has not established a fixed\ncompletion date but is working toward achieving full remediation as soon as practicable.\n\n \n\n**b.\nManagement’s Annual Report on Internal Control Over Financial Reporting**\n\n \n\nOur\nmanagement is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f)\nand 15d-15(f) under the Exchange Act. Our management, with the participation of our chief executive officer and our chief financial officer,\nevaluated the effectiveness of our internal control over financial reporting based on criteria established in the framework in Internal\nControl - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this\nevaluation, our management has concluded that as of February 28, 2026, our internal control over financial reporting was not effective\ndue to a material weakness identified in our internal control over financial reporting as described above.\n\n \n\nBecause\nof its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of\nany evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,\nor that the degree of compliance with the policies and procedures may deteriorate.\n\n \n\n57\n\n \n\n \n\n**c.\nAttestation report of the registered public accounting firm**\n\n \n\nThis\nAnnual Report on Form 20-F does not include an attestation report of our registered public accounting firm regarding internal control\nover financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant\nto the rules of the SEC.\n\n \n\n**d.\nChanges in internal control over financial reporting**\n\n \n\nExcept\nfor the matters described above, there have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f)\nof the Exchange Act) that occurred during the year ended February 28, 2026 that have materially affected, or are reasonably likely to\nmaterially affect, our internal controls over financial reporting."}