That’s INSANE:

The more-frequent the reporting, the less cooking-the-books/fraud has leeway to go undetected!

Cisco, years-ago, implimented closing-out-the-books DAILY.

I’d change reporting to being monthly, not semi-annually, so as to clean-up the economy, making it easier to catch fraudsters.

https://www.kobo.com/us/en/ebook/financial-shenanigans-fourth-edition-how-to-detect-accounting-gimmicks-and-fraud-in-financial-reports-1 was waaay beyond me, when I tried reading the 1st-edition, but for anybody who wants to do a Charlie Munger level of assessment on a company, before sinking money into it, PLEASE read that book, if accounting is within your competence.

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