Connect with us

Hi, what are you looking for?


SEC extends submission deadline for annual reports

THE Securities and Exchange Commission (SEC) has extended the deadline for filing annual financial statements (AFS) to allow auditors to finish their work.

“The extension seeks to provide external auditors more time to complete their statutory audits of the financial statements of corporations,” the SEC said in a press release.

Companies whose fiscal year ended on Dec. 31, 2022 are to file their AFS depending on the last digit of their SEC registration or license number.

All corporations’ branch offices, regional headquarters, and regional operation headquarters of foreign corporations must follow the new scheme set in the SEC’s Memorandum Circular No. 1, Series of 2023.

Under the number coding scheme, registration numbers ending in 1 and 2 are to file their reports on May 29 to 31 and June 1 to 2. For those ending in 3 and 4, the filing date is on June 5 to 9. For numbers ending in 5 and 6, the filing date is on June 13 to 16; and for those ending in 7 and 8, the date is on June 19 to 23.

SEC extension offices will also implement the schedule and corporations may submit their report on or before their respective deadlines.

Those not covered by the extension are corporations whose fiscal year ends on a date other than Dec. 31, 2022, corporations whose securities are listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed in the PSE, public companies, and entities covered under Sec. 17.2 of Republic Act No. 8799, or the Securities Regulation Code (SRC).

Additionally, corporations whose AFS are being audited by the Commission on Audit (CoA) are also not covered by the extension.

“Such corporations shall provide an affidavit signed by the president and treasurer or chief finance officer attesting to the fact that the company timely provided [CoA] with the financial statements and supporting documents,” the SEC said.

It added that a corporation needs to prove the CoA audit has concluded as well as present a letter confirming the information stated in the AFS.

Additionally, the company’s general information sheet must be filed within 30 calendar days from the date of its annual stockholders’ meeting. — Adrian H. Halili

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



SM Investments Corp. announces annual stockholders’ meeting on April 26 – BusinessWorld Online ...


AyalaLand Logistics Holdings Corp. to conduct annual meeting of stockholders virtually on April 19 – BusinessWorld Online ...


The National Grid Corp. of the Philippines (NGCP) warned of possible power outages as temperatures sizzle in Metro Manila. — PHILIPPINE STAR/MICHAEL VARCAS THE...


A worker makes denim jeans for export at a garment factory in Manila, June 17, 2008. — REUTERS/ROMEO RANOCO By Luisa Maria Jacinta C....


PHILIPPINE STAR/WALTER BOLLOZOS By Keisha B. Ta-asan, Reporter THE PHILIPPINE economy is likely to expand by 5.8% this year, although elevated inflation and higher...


BW FILE PHOTO THE PHILIPPINE central bank is expected to raise benchmark rates by 25 basis points (bps) in May, which could mark the...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.