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Why are publicly traded companies in the United States required to prepare interim reports on a quarterly basis?

Auditing: A Risk Based-Approach to Conducting a Quality Audit

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Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

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National Bancorp, a publicly traded company, files quarterly and annual financial statements with the SEC.Which characteristic is relevant to the timing of these periodic filings?
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An annual report Must be audited by the IRS. Is delivered to stockholders and the public on the last day of the fiscal year. Includes comparative financial statements for several years. Must be filed with the SEC by all companies in the United States.
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