COMMENTARY on The Profession.
评论8-K公开文件在警示公众和SEC关于公司财务欺诈方面的充分性，以ZZZZ Best公司案例说明审计师辞职触发8-K报告的过程。
Abstract This article comments on the adequacy of the 8-K public filing in alerting the public and the U.S. Securities and Exchange Commission over the possibility that financial fraud has been committed by corporations. A little over a year ago, ZZZZ Best Co. was considered one of the hottest new stock offerings and had made its 21-year-old founder, Barry Minkow, rich and famous. This January, Minkow was named in a 54-count indictment that charges him with racketeering, money laundering, and fraud. The indictment contends he defrauded investors and banks by falsely claiming to have millions of dollars of building restoration jobs, jobs that never existed. The company collapsed last July and is now bankrupt. Before the company collapsed, the auditors had resigned without completing their initial audit. Their resignation triggered an 8-K public filing with the Securities and Exchange Commission (SEC). An SEC registrant company must now file an 8-K report within 15 days after its auditor resigns or is fired. The filing must state whether the auditor and the company disagreed about accounting principles or practices, financial statement disclosures, or auditing scope or procedures.