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I see a few problems......10-Q's aren't auditedHowever, in addition to being reviewed by the independent accountant as part of the 10-K audit, the 10-Q's, like the 10-K, are certified by both the CEO and CFO in accordance with sections 302 and 906 of Sarbanes-Oxley--with section 906 providing for criminal penalties (as in jail time) for filing financial statements which do not accurately represent the operations and financial condition of the business and with the 906 certifications being enforced by the United States Department of Justice.Don't discount the information in those 10-Q's as being somehow being less valuable because they are not formally audited. I have seen more than a few 10-K's being signed-off on by the independent accountants only to have massive restatements of those numbers later on.Also, if you only wait until the K is out, you may be late to the party in spotting such critical items as deterioration in margins or ballooning inventories or receivables--all red flags that should raise concern.just my 2 cents,zf
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