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POST EMPLOYMENT BENEFITS (Tables) | 12 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
Schedule of Reconciliation of Projected Benefit Obligations | The following tables summarize the changes in the benefit obligation funded status of the Pension Plan and amounts reflected in the Company’s consolidated balance sheets as of September 30, 2023 and 2022.
| Fiscal Year Ended September 30, | Fiscal Year Ended September 30,
| 2023 | 2022
Accumulated benefit obligation: | $ | 12,957 |  | $ | 12,812 |
Change in projected benefit obligation: |  |
Projected benefit obligation, beginning of period | $ | 12,812 |  | $ | 24,302 |
Interest cost | 733 |  | 381 |
Benefits paid | (570) |  | (595) |
Foreign currency translation adjustment | 1,235 |  | (3,370) |
Actuarial gains | (1,253) |  | (7,906) |
Projected benefit obligation at end of period | 12,957 |  | 12,812 |
Change in fair value of plan assets: |  |
Fair value of plan assets, beginning of period | $ | 14,385 |  | $ | 21,269 |
Actual loss on plan assets | (427) |  | (3,948) |
Employer contributions | 1,226 |  | 1,059 |
Foreign currency translation adjustment | 1,379 |  | (3,400) |
Benefits paid | (570) |  | (595) |
Fair value of plan assets, end of period | 15,993 |  | 14,385 |
Funded status | $ | 3,036 |  | $ | 1,573 |
Schedule of Components of Net Periodic Benefit Cost | The net periodic benefit costs, which are presented within general and administrative expenses, under the Pension Plan were as follows:
| Fiscal Year Ended September 30, | Fiscal Year Ended September 30,
| 2023 | 2022
Components of net periodic benefit expense: |  |
Interest cost | 733 |  | 381 |
Expected return on assets | (798) |  | (744) |
Amortization of prior gain | (152) |  | — |
Net periodic benefit cost | $ | (217) |  | $ | (363) |
Schedule of Major Assumptions for Net Periodic Benefit Costs and Calculated Benefit Obligation | The major assumptions used in determining the net periodic benefit costs for the fiscal year ended September 30, 2023 and 2022:
| Fiscal Year Ended September 30, | Fiscal Year Ended September 30,
| 2023 | 2022
Discount rate | 5.33 | % | 1.85 | %
Expected return on plan assets | 4.96 | % | 4.01 | %
At September 30, 2023, we are increasing our long-term rate of return assumption to 4.85% for pension plan assets. The major assumptions used in determining benefit obligations were as follows:
| Fiscal Year Ended September 30, | Fiscal Year Ended September 30,
| 2023 | 2022
Discount rate | 5.67 | % | 5.33 | %
Rate of compensation increases | 0.00 | % | 0.00 | %
Schedule of Plan Assets Distribution | Plan assets distribution was as follows:
| Fiscal Year Ended September 30, | Fiscal Year Ended September 30,
| 2023 | 2022
Cash | 3.31 | % | 24.90 | %
Equity securities | 2.35 |  | 6.20 |
Debt securities | 91.23 |  | 49.50 |
Real estate mutual fund | 1.20 |  | 5.90 |
Other | 1.91 |  | 13.50 |
Total | 100.00 | % | 100.00 | %
Schedule Plan Assets at Fair Value | The fair value of total plan assets by asset category and fair value hierarchy levels as of September 30, 2023 were as follows:
| Fair value as of September 30, 2023 |  | Fair Value Measurements at Reporting Date Using:
|  | Level 1 |  | Level 2 |  | Level 3
Cash | $ | 431 |  |  | $ | 431 |  |  | $ | — |  |  | $ | — |
Fixed income securities: |  |  |  |  |  |  |
Investment grade corporate bonds | 14,184 |  |  | — |  |  | 14,184 |  |  | — |
Other types of investments: |  |  |  |  |  |  |
Multi-asset fund | 1,378 |  |  | — |  |  | 1,378 |  |  |
Total | $ | 15,993 |  |  | $ | 431 |  |  | $ | 15,562 |  |  | $ | — |
The fair value of total plan assets by asset category and fair value hierarchy levels as of September 30, 2022 were as follows:
| Fair value as of September 30, 2022 |  | Fair Value Measurements at Reporting Date Using:
|  | Level 1 |  | Level 2 |  | Level 3
Cash | $ | 409 |  |  | $ | 409 |  |  | $ | — |  |  | $ | — |
Fixed income securities: |  |  |  |  |  |  |
Investment grade corporate bonds | 4,408 |  |  | — |  |  | 4,408 |  |  | — |
Other types of investments: |  |  |  |  |  |  |
Multi-asset fund | 9,568 |  |  | — |  |  | 9,568 |  |  | — |
Total | $ | 14,385 |  |  | $ | 409 |  |  | $ | 13,976 |  |  | $ | — |
Schedule of Anticipated Future Benefit Payments | Estimated pension benefit payments expected to be paid in cash in each of the next five years and in the aggregate for the following five years thereafter are as follows:
| 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Projected Benefit Payments | $ | 786 |  |  | $ | 661 |  |  | $ | 787 |  |  | $ | 985 |  |  | $ | 827 |  |  | $ | 4,142 |  |  | $ | 8,188 |

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- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of investment allocation of defined benefit plan assets. Includes, but is not limited to, investment allocation percentage or range of percentages. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of defined benefit plan asset investment. Includes, but is not limited to, fair value of category of plan asset and its level within fair value hierarchy. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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