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SEC-Cebu extends filing of audited financial statements to Aug. 7

By: Rosalie O. Abatayo - Multimedia Reporter - CDN Digital | June 28,2020 - 02:26 PM
Securities and Exchange Commission or SEC has extended the deadline of the filing of the audited financial statements of corporations registered under SEC-Cebu Extension Office to August 7, 2020.

Securities and Exchange Commission or SEC has extended the deadline of the filing of the audited financial statements of corporations registered under SEC-Cebu Extension Office to August 7, 2020.

CEBU CITY, Philippines —The deadline for the annual filing of the audited financial statements of corporations registered under the Securities and Exchange Commission (SEC) – Cebu Extension Office has been moved to August 7, 2020, following the reimplementation of the enhanced community quarantine (ECQ) in Cebu City.

In an Advisory, the SEC-CEO said the extension applies to corporations registered in SEC Cebu with primary addresses in Central and Eastern Visayas, which are the areas under the extension office’s jurisdiction, and whose fiscal years ended on November 30 and December 31, 2019.

Read more: SEC tells businesses to strengthen cybersecurity as more transactions go online

Lawyer Alma Marie Dalena, the officer-in-charge of SEC Cebu, said that their office would not be following the number coding scheme provided in an earlier SEC memorandum circular where the filing was supposed to start this Monday, June 29. Cebu City is under ECQ at least until June 30.

“Based on our assessment, there is a need to extend the deadline for the filing of audited financial statements, especially since Cebu City is back under ECQ. The number scheduling scheme was supposed to start on June 29, but we will not be following the said scheme anymore. Corporations under our jurisdiction may apply on or before August 7,” Dalena said.

Dalena also advised SEC-CEO’s clients to submit their reports electronically via email or through a courier service to minimize the physical contact of clients in the agency’s office.

“They may also send it to [email protected] for email submission, provided that they comply with the guidelines stated in Memorandum Circular No. 10, series of 2020,” Dalena added.

Read more: SEC Memorandum Circular No. 10, series of 2020

According to the circular, the email with the attached report should contain a statement declaring the authenticity of the submitted documents and a commitment to submit the physical copy of the document once the state of public health emergency is lifted.

SEC said it would announce a date for the submission of the notarized physical copies of the documents that would be submitted via email once the community quarantine controls are lifted./dbs

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