How to File Form 8-Ks for Unreliable Financials

If your company’s board, board committee or authorized officers conclude that any previously-issued financials should no longer be relied upon because of an error, or the company is notified by its independent auditor that disclosures should be made or actions taken to prevent reliance on any previously-issued financials, you need to file a Form 8-K under Item 4.02 with the SEC within 4 business days.

If your financials are unreliable, that’s a big deal. Item 4.02 is essentially of two flavors – 4.02(a) deals with the circumstances in which the company itself concludes its financials are unreliable. 4.02(b) is when the company’s auditors decide the financials are unreliable.

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