Public Company Reporting Topics F11-35b

What are the characteristics of the public entity?

A public entity is one that:

  1. is required by the SEC to file or furnish financial statements
  2. is required by the Securities Act of 1034 to file or furnish financial statements
  3. is required to file or furnish financial statements with foreign or domestic regulatory agencies
  4. has issued securities that are traded, listed or quoted on an exchange or over-the-counter market
  5. has securities that are not subject to contractual restrictions and is required by law, contract or regulation to prepare U.S. GAAP financial statements