Reporting Requirements _and_amp; Financial Results Release Timin 382



  • Does SOX require that the public release of the financial results of a publicly traded company be preceded by SEC filings (e.g., 10K, 10Q, etc.)? Is there any linkage between information release and SEC filing? Thanks for your opinions and answers.



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  • Most companies release earnings data prior to filing 10Q, 10K statements with the SEC. The earnings releases are generally reported to the SEC on a form 8K. There is no linkage between earnings releases and 10Q, 10K filings as to timing.



  • Our company always released it’s earnings results prior to SEC filings. This year, however, earnings will not be released (2004 YE and 2005 QE) until the 10-K and 10-Qs have been filed. The reason being given for this change in earnings release has been that we need to comply with Sarbanes Oxley. I didn’t think there was a requirement in SOX that mandated this change but I was just checking.



  • I can’t think of anything in the SOX act that would impact timing of earnings releases. In fact, we are taking the position that earnings releases are outside the scope of SOX 404 and are not documenting any controls around the accuracy of the release. That being said, the controls that are in place around the financial information in the 10Q / 10K overlap quite a bit with those around the earnings release.


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