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The SEC requires registrants to have their quarterly financial statements reviewed by an independent accounting firm but does not mandate that a review report be included in a Form 10-Q. Under what circumstances must a review report accompany quarterly financial statements in a 10-Q? Why doesn't the SEC routinely require public companies to include their review reports in their 10-Q filings?

Sagot :

Martebi

The SEC routinely require public companies to include their review reports in their 10-Q filings because it is said to be made up of fewer details and the financial statements inclusive that are known to be unaudited.

  • Note that Form 10-Q is asked for because it is often used to make comparison of a company’s previous financial quarter to that of its current financial quarter.

What is Form 10-Q?

Form 10-Q is known to be a type of a report  that is often needed by the Securities and Exchange Commission (SEC)  and it is one that all public company need to file on quarterly basis.

Note also that The SEC is known to have made and need the form in accord to the pursuant of  the Securities Exchange Act of 1934  and this form helps them to keep investors well  informed about the state of their financial health and all that is taking place at  the companies they have invest in or will choose to invest in.

Hence,  Form 10-Q is asked for because it is often used to make comparison of a company’s previous financial quarter to that of its current financial quarter.

Learn more about financial statements from

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