7.8 FREQUENCY OF REPORTING
IAS 34 does not set the frequency of interim reports, because it perceives this as not being a matter of GAAP. However, it encourages at least half-year reports for publicly traded companies.163
In Europe, the Transparency Directive requires listed companies to publish half-year reports.164
Subtopic 270-10 (APB 28) is not prescriptive either, accepting monthly, quarterly, or other interim reports.165 A Form 10-Q is required for each quarter, except for the latest quarter of the fiscal year.166 An entity must disclose whether quarters do not coincide with calendar dates. They must be consistent across years, or otherwise the entity must warn on the missing comparability.167 For a foreign private issuer, the age requirements of Form 20-F (Paragraph 7.3.4 previously) dictate when a registration statement must be updated.
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