Ask AI: Which two categories of cooperation are required to include their audited financial statements when submitting their annual returns

When submitting their annual returns, the two categories of corporations typically required to include audited financial statements are: 1. **Public Companies**: These are companies that have shares listed on a public stock exchange. Due to the need for transparency and the protection of investors, public companies are generally mandated by law to provide audited financial statements. In many jurisdictions, securities regulators require public companies to submit audited financial statements as part of their annual disclosures to ensure that financial information is accurate and reliable. 2. **Large Private Companies**: Often, private companies that exceed certain thresholds in terms of revenue, assets, or number of employees may also be required to provide audited financial statements. The specific criteria can vary by jurisdiction. These requirements are put in place to ensure that significant private entities maintain a level of financial transparency and accountability. For both categories, the aim is to provide stakeholders, including investors, creditors, and regulatory bodies, with credible and accurate financial information. If you are dealing with a specific jurisdiction, it's important to consult the local laws and regulatory requirements to understand the exact obligations.