Limits financial statements smaller public companies must file

Companies that qualify for reduced disclosures after going public would not have to file certain financial statements, including some from companies they buy.

• Companies that qualify for reduced disclosures could skip financial statements of companies they buy
• Formerly qualifying companies would not have to file statements older than their earliest audit tied to going public
• These companies currently file two years of financial statements after going public; other companies file three

Passed the House · Senate's turn

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