Generally refers to three types of reports public companies must file: (1) annual reports via Form 10-K, (2) quarterly reports via Form 10-Q, and (3) current reports via Form 8-K.
These forms are submitted to the U.S. Securities and Exchange Commission (in-part) to ensure that investors and interested parties are regularly given access to both material updates and comprehensive “check ins” regarding a company’s business standing and financial situation. Because these filings are critically important to maintaining transparency and confidence in the U.S. economy, the SEC takes them very seriously. It is therefore critically important for companies to remain honest and forthright when preparing Ks and Qs. Failure to treat these filings with an appropriate level of attention and respect may lead to serious financial, civil and even criminal consequences.
When filing your Ks and Qs, mind your Ps and Qs or you could find yourself SOL with the SEC.