QAU Memo 2019-01 : Schedules of Filing of AFS and GIS
| SEC Memorandum Circular No. 3, Series of 2018: 2018 Filing of Annual Financial Statements and General Information Sheet |
I. AUDITED FINANCIAL STATEMENTS (AFS) OF THE COMPANIES WHOSE FISCAL YEAR ENDS DECEMBER 31, 2018
On January 10, 2019, the SEC in its Memorandum Circular No. 1 Series of 2019 prescribes the schedule of filing of the Audited Financial Statements (AFS) of the Companies whose fiscal year ends December 31, 2018. The date of filing shall depend in the last numerical digit of their SEC registration or license numbers, as follows:
April 22, 23, 24, 25, 26 : 1 and 2
April 29, 30, May 2 & 3 : 3 and 4
May 6, 7, 8, 9, 10 : 5 and 6
May 20, 21, 22, 23, 24 : 7 and 8
May 27, 28, 29, 30, 31 : 9 and 0
The above filing schedule shall not apply to the following Corporations whose:
| Fiscal year ends on a date other than December 31, 2018 | Shall file their AFS within 120 calendar daysfrom the end of their fiscal year
In case of Broker Dealer: Fiscal year ends on December 31 – SEC Form 52-AR shall be filed based on the last numerical digit of its registration number Other than December 31 – SEC Form 52-AR shall be filed 110 calendar days after the close of their fiscal year |
| Securities are listed on the Philippine Stock Exchange (PSE) and securities are registered but not listed in PSE and Public Companies | Shall file their AFS within 105 calendar days after the end of fiscal year |
| AFS are being audited by Commission on Audit (COA). | The following documents must be attached to their AFS:
affidavit signed by the President and Treasurer (or Chief Finance Officer, if applicable) attesting that the Company timely provided to COA its financial statements and supporting documents; and a letter from COA confirming the information in the above affidavit. |
Please be advised that on or prior to April 22, 2019, all Corporations may file their AFS regardless of the last digit of their registration or license numbers. Late filings shall be accepted starting June 3, 2019 and shall be subject to the prescribed penalties which shall be computed from the date of the last filing schedule. Failure to comply with any of the formal requirements under SRC Rule 68, as amended, shall be considered a sufficient ground for the imposition of penalties by SEC.
In addition, all corporations may directly file at the SEC Head Office and/or all SEC Satellite Offices.
All filers may also select courier filing options: SEC Express Online Submission, SEC Express Nationwide Submission (SENS) or courier/regular mail.
General Information Sheet
All Corporations shall file their General Information Sheet within 30 days from:
- date of annual stockholders’ meeting per By-Laws for Stock Corporations;
- date of annual members’ meeting per By-Laws for Non-stock Corporations; and
- anniversary date of the issuance of the SEC license for Foreign Corporations.
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QAU Memo is the official publication of R.S. Bernaldo & Associates to keep the Firm’s professional staff informed of the issues affecting the practice. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The Firm cannot be held liable for any losses suffered as a result of reliance upon information contained in this memo. This is a property of R.S. Bernaldo & Associates. Reproduction of any material included in the memo should be subject to the approval of the Editorial Board. R.S. Bernaldo & Associates is a correspondent firm of the PKF International Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. Comments and suggestions are welcome. |
Editorial Board
Partner | Quality and Compliance/ Training Partner rose [dot] bernaldo [at] rsbernaldo [dot] com
Quality Assurance Senior Manager/ Quality Assurance Leader anthony [dot] pano [at] rsbernaldo [dot] com
Quality Assurance Associate/ Engagement Quality Control Review Leader qau [at] rsbernaldo [dot] com
Quality Assurance Associate/ Technical Consultation Leader qau [at] rsbernaldo [dot] com
Quality Assurance Associate/ Learning and Training Leader qau [at] rsbernaldo [dot] com
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