SEC Cebu Moves Deadline for AFS to Aug 7

Due to the re-implementation of enhanced community quarantine (ECQ) in Cebu City from June 15-30, 2020, the Securities and Exchange Commission–Cebu Extension Office (SEC-CEO) is extending the deadline of the annual filing of the audited financial statements (AFS) to August 7, 2020.

However, this deadline shall only apply to corporations with fiscal years ending on November 30 and December 31, 2019. It is likewise only applicable to SEC-Cebu registered corporations as well as corporations with primary addresses in Regions 7 and/or 8, which are under the jurisdiction of the SEC Cebu Extension Office.

In a statement, SEC Cebu officer-in-charge, Atty. Alma Marie E. Dalena, said that they will no longer follow the number scheduling scheme provided in SEC Memorandum Circular No. 18, series of 2020.

“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,” she said.

Other means of filing

To minimize the number of people coming in and out of the SEC Cebu Extension Office, Dalena advised clients to email their reports or to send them via JRS Express with return pouch.

According to Dalena, “Clients who are unable to submit their reports in person may send their documents via JRS Express with return pouch to ensure that the received copy will be sent back to them. They may also send it to reports_ceo@sec.gov.ph for email submission, provided that they comply with the guidelines stated in Memorandum Circular No. 10, series of 2020.”

The said memorandum circular states that the body of the email should contain a statement declaring the authenticity of the submitted documents and a commitment to submit physical versions of the exact same submitted documents to the SEC once the state of public health emergency is lifted. This statement should include the full name, corporate address, email address, and mobile number of the authorized representative making the submission. For purposes hereof, the SEC shall set and announce a specific date for submission of the duly notarized hard copies of the documents submitted through electronic mail after the state of public health emergency is lifted.

Dalena also said that their office has adjusted to “new normal” work conditions by adjusting their working hours and implementing work from home measures.

For any concerns or inquiries, the public may get in touch with SEC Cebu by contacting (032) 416 9339 or (032) 253 5337. They may also email seccebu@sec.gov.ph