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SEC Reporting

2014 Schedule of Filing of Annual Financial Statements with December 31, 2013 Yearend

The Securities and Exchange Commission (SEC) has posted in its website SEC Memorandum Circular No. 16, Series of 2013 dated September 13, 2013 setting forth the schedule of filing of the annual financial statements of companies with fiscal year ends December 31, 2013.

Filing Dates

Filing Date Last Digit of SEC Registration/License
April 14, 15, 16, 17, 18 “1” , “2”
April 21, 22, 23, 24, 25 “3” , “4”
April 28, 29, 30, May 2 “5” , “6”
May 5, 6, 7, 8, 9 “7” , “8”
May 12, 13, 14, 15, 16 “9” , “0”

The schedule was issued to maintain organized and orderly filing of annual financial statements.  All corporations may file their AFS regardless of their last numerical digit of their registration or license number prior to April 14, 2014.  On the other hand, late filing shall be accepted starting May 19, 2014, subject to prescribed penalties.

Other Matters to Remember

It is worth noting the the schedule above is not applicable to the following:

  • Corporations with fiscal year end other than December 31, 2013 (file AFS 120 days from the end of fiscal year)
  • Listed entities with the PSE
  • AFS audited by COA

Also, SEC Memorandum Circular No. 16 reminds the AFS filers that SEC will not accept AFS, other than consolidated financial statements, unless stamped “Received” by the Bureau of Internal Revenue or Authorized Agent Banks.

The SEC will pre-screen the AFS and its attached components and failure to comply with any formal requirements under SRC Rule 68, shall be considered a sufficient ground for the denial of the receipt of the financial statements.  The acceptance of the AFS, however doesn’t mean that the financial statements may no longer be subjected to fines that may be imposed for any material deficiency or misstatements.

Better to File Early

To beat the long lines and avoid the risk of late filing, it would be better to file early.  As the Memo Circular stated, all corporations may file their AFS regardless of the last digit of their registration or license before April 14, 2014.  So why cram when you have the chance to do it early.  As early as today, talk to your accountants and auditors and set a timetable to enable meeting a realistic deadline.  Of course, have your books ready also so that you will have a smooth audit.

Click Here to download SEC Memorandum Circular No. 16, Series of 2013 issued by the SEC.

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About leecpa

Orlando Calundan is a Certified Public Accountant. He has exposures in audit of financial statements of entities in various industries such as real estate, food (quick service restaurants), manufacturing, service organizations and BPOs, automotive, holding/investment companies and more. He also has exposure on internal audit engagements. http://calundan.co

Discussion

2 thoughts on “2014 Schedule of Filing of Annual Financial Statements with December 31, 2013 Yearend

  1. Sir, may I ask how many copies of the AFS and GIS should be submitted to the SEC? Thanks in advance.

    Posted by lou reyes | April 22, 2015, 2:30 pm
    • For AFS, 4.. 2 original, 2 photocopies all stamped by the BIR. Have the 2 copies stamped by the BIR first then photocopy to produce the two.. GIS – please see relevant SEC circular, I can’t recall.. Hehe

      Posted by leecpa | April 22, 2015, 3:03 pm

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