What financial information are companies required to disclose under current regulations? (Tom Shroyer discusses with "Reel Lawyers")
Well that’s a big topic and it runs the gamut depending upon the type of the client. Certainly, certain public entities like companies that are very large and have their stock publicly traded or governmental entities. Banks have financial disclosure and reporting requirements that are established by various agencies of the government or even, in many cases, by congressional or state laws. Other types of financial disclosures that are required are really driven by people who are working with private companies, principally banks and lenders, who require that they have their financial information audited or checked and disclosed in accordance with an agreed-upon standard format so that they can understand exactly what financial condition their borrower or client or company they’re going to invest in has.