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AsiaFIN Holdings Corp. (ASFH): material weakness open 2,069 days

By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.

AsiaFIN Holdings Corp. reported ineffective internal control over financial reporting because of a material weakness in 18 filings since Nov 29, 2021. It stated one or more material weaknesses in 6 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Jun 30, 2026.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #11796

Causes the company named

Segregation of duties · 23Accounting expertise and resources · 21Entity-level and governance · 20Financial close and reporting · 15Not described · 1

Inadequate accounting policies, weak segregation of duties, and insufficient internal audit personnel and function.

What the latest filing says

Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our chief executive officer concluded that our disclosure controls and procedures were not effective. The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (i) inadequate written policies and procedures for accounting and financial reporting in accordance with the requirements and application of U.S. GAAP and SEC guidelines; (ii) inadequate segregation of duties and effective risk assessment; and (iii) lack of internal audit function due to the fact that the Company lacks qualified personnel to perform the internal audit functions effectively and that the scope and effectiveness of the internal audit function are yet to be developed. The aforementioned material weaknesses were identified by our chief executive officer in connection with the review of our financial statements as of June 30, [...]

From the controls section of the 10-Q filed Aug 11, 2026. Read the full filing on SEC EDGAR.

Company response: AsiaFIN Holdings Corp. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.

Filings

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Based on public SEC filings. Causes are grouped into standard categories by Ctrl Worx. The filings are the authority. Ctrl Worx is not affiliated with AsiaFIN Holdings Corp. or the SEC. Not investment advice. Why you can rely on the Watch List.