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FINANCIAL STATEMENTS REGULATORY BASIS AND REPORTS OF INDEPENDENT AUDITOR ASTEC CHARTER SCHOOL, G004 OKLAHOMA COUNTY, OKLAHOMAJUNE 30, 2023Audited by BLEDSOE, HEWETT & GULLEKSON CERTIFIED PUBLIC ACCOUNTANTS,
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Regulatory basis refers to the established guidelines and legal requirements that organizations must follow when reporting and disclosing financial information to ensure transparency and compliance.
Organizations, including public companies, financial institutions, and certain non-profit entities, are required to file regulatory basis reports as mandated by regulatory authorities.
To fill out the regulatory basis, organizations must gather the required financial data, adhere to the format specified by regulatory bodies, and ensure accuracy and completeness before submission.
The purpose of regulatory basis is to provide a standardized framework for reporting financial information, enhance transparency, and protect stakeholders by ensuring compliance with laws and regulations.
The information that must be reported includes financial statements, disclosures about operational risks, compliance with laws, and other metrics relevant to the organization's financial health.
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