FAR 1-9: SEC Reporting Requirements

Question 1

Describe the Form 10-K & the Form 10-Q. What level of assurance must be provided with the financial statements submitted in these forms?

Answer 1

• Form 10-K: Filed annually by U.S. registered companies. Includes a summary of financial data, MD&A, & AUDITED financial statements prepared using U.S. GAAP.
• Form 10-Q: Filed quarterly by U.S. registered companies. Includes REVIEWED financial statements, interim MD&A, & certain disclosures