|
|
|
Should my company be concerned if a business we intend to acquire does not have audited financial statements?
In addition to the added comfort derived from an independent audit of a company's financial statements, the SEC has strict guidelines regarding the public disclosure of audited financial statements for an acquired business depending on the level of materiality (based on assets or net income) compared to the acquiring entity. These SEC guidelines are relevant if your company is public or intends to go public in the near to immediate future. Up to three years of financial could be required.
|
|
