• DISCLOSURES REQUIRED BY THE SECURITIES AND EXCHANGE COMMISSION
• DISCLOSURE RULES OF THE ACCOUNTING PROFESSION
• OTHER DISCLOSURE LAWS
• FURTHER READING:

Companies that are privately owned are not required by law to disclose detailed financial and operating information. They have a wide latitude in deciding what types of information to make available to the public. They can shield information from public knowledge and determine for themselves who needs to know specific types of information.

Companies that are publicly owned, on the other hand, are subject to detailed disclosure laws about their financial condition, operating results, management compensation, and other areas of their business. The current system of...