Shearman & Sterling LLP
Issue link: https://digital.shearman.com/i/1494417
What Financial Statements Are Required in an OM? Financial Statements – The Basic Requirements 26 • Annual audited financial statements • Balance sheet • Income statement • Cash flow statement • Statement showing changes to equity (can be presented in a note to the financials) • Any notes and schedules required under the accounting standards used to prepare the financials • Audited financial statements for an issuer must be accompanied by an audit report issued by independent public auditors with respect to the issuer under the relevant auditing standard • Which periods must the annual statements cover? • 3 full financial years for the issuer and predecessors or for as long as they have been in existence, if less • Two years only may be sufficient for repeat issuers in certain circumstances • Last year of audited financial statements may not be older than 15 months (or 12 months for an IPO) • However, keep in mind 135-day staleness rule for auditor comfort purposes