What is 10-K Item 9a?
What is 10-K Item 9a?
CONTROLS AND PROCEDURES. MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING. Background.
Do you have to disclose a significant deficiency?
A: A registrant is obligated to identify and publicly disclose all material weaknesses. If management identifies a significant deficiency it is not obligated by virtue of that fact to publicly disclose the existence or nature of the significant deficiency.
What causes significant deficiency?
A significant deficiency is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit attention by those responsible for oversight of the company’s financial reporting.
How bad is a significant deficiency?
A significant deficiency is less severe than a material weakness in that it is unlikely to have a material impact on financial statements, but it is, “important enough to merit attention by those responsible for oversight of the company’s financial reporting,” according to the PCAOB.
What is Item 1 in a 10-K report?
Often, the most essential components of the annual 10-K filing include: Item 1: Business (a description of the company’s operation) Item 1A: Risk Factors. Item 3: Legal Proceedings.
What is item 9B “other information” on Form 8-K?
Item 9B “Other Information” includes any information that was required to be reported on a Form 8-K during the fourth quarter of the year covered by the 10-K, but was not yet reported. These items cover the following topics:
What is the difference between 8-K 9A and 9B?
Item 9A “Controls and Procedures” includes information about the company’s disclosure controls and procedures and its internal control over financial reporting. Item 9B “Other Information” includes any information that was required to be reported on a Form 8-K during the fourth quarter of the year covered by the 10-K, but was not yet reported.
What is the difference between Form 10-K and 10-Q?
(Non-U.S. public companies usually file their annual reports with the SEC on different forms.) SEC rules require that 10-Ks follow a set order of topics. The Form 10-Q is required to be filed after the first, second and third fiscal quarter.
When to use Form 10-K under the Securities Exchange Act?
GENERAL INSTRUCTIONS Rule as to Use of Form 10-K. This Form shall be used for annual reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) (the “Act”) for which no other form is prescribed. This Form also shall be used for transition reports fi led pursuant to Section 13 or 15(d) of the Act.
