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If the financial statements for a period prior to the most recently completed fiscal year have been examined by a predecessor accountant, the separate report of the predecessor accountant may be omitted in the report to security holders, provided the registrant has obtained from the predecessor accountant a reissued report covering the prior period presented and the successor accountant clearly indicates in the scope paragraph of his or her report
It should be noted, however, that the separate report of any predecessor
accountant is required in filings with the Commission. If, for instance,
the financial statements in the annual report to security holders are
incorporated by reference in a Form
10-K and Form 10-KSB, the
separate report of a predecessor accountant shall be filed in Part II
or in Part IV as a financial statement schedule.
Note 2 to Paragraph (b)(i)
For purposes of complying with Rule 14a-3, if the registrant has changed its fiscal closing date, financial statements covering two years and one period of 9 to 12 months shall be deemed to satisfy the requirements for statements of income and cash flows for the three most recent fiscal years.
Pursuant to the undertaking required by paragraph (b)(10) of this section, a registrant shall furnish a copy of its annual report on Form 10-K to a beneficial owner of its securities upon receipt of a written request from such person. Each request must set forth a good faith representation that, as of the record date for the solicitation requiring the furnishing of the annual report to security holders pursuant to paragraph (b) of this section, the person making the request was a beneficial owner of securities entitled to vote.
Registrants are encouraged to utilize tables, schedules, charts and
graphic illustrations of present financial information in an understandable
manner. Any presentation of financial information must be consistent
with the data in the financial statements contained in the report and,
if appropriate, should refer to relevant portions of the financial statements
and notes thereto.
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