Tuesday, September 27, 2016 5:36:47 PM
There are a couple possible explanations for that.
One is that the annual 10-K is far more complex and requires more information than the quarterly 10-Q's.
The 10-K also needs to be audited. While the auditors are supposed to "review" the quarterly reports, that is a relatively shallow review...so shallow that such reviews have been known to be barely perceptible. The 10-K, on the other hand, requires the auditor to render a formal opinion as to whether the consolidated financial statements present fairly, in all material respects, the financial position and the results of the operations and cash flows for the years audited, in conformity with accounting principles generally accepted in the United States of America.
Auditors take their time with such things, especially when the company in question has had issues with previous audits. And especially when a company has exhibited an affinity for involving the courts in resolving its problems.
Ralph Wiggum: I cheated wrong. I copied the Lisa name and used the Ralph answers.
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