CFD Memorandum Circular No. 12, s. 2002 – Submission of Special Forms for Financial Statements and Quarterly Reports
CFD Memorandum Circular No. 12, s. 2002 requires financing companies to submit special forms for annual audited financial statements and quarterly reports, including hard copies, diskettes, and sworn certifications.
SEC MEMORANDUM CIRCULARS
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CFD Memorandum Circular No. 12, s. 2002
Submission of Special Forms for Financial Statements and Quarterly Reports
Memorandum Circular No.: 12
Series: 2002
Date Issued: August 14, 2002
Issuing Agency: Securities and Exchange Commission (SEC), Philippines – Corporation Finance Department (CFD)
Overview
Editorial Summary
This overview is an editorial summary and does not form part of the official memorandum circular.
CFD Memorandum Circular No. 12, s. 2002 requires all financing companies to submit standardized financial reporting forms in connection with SEC Memorandum Circular No. 2, Series of 2001.
The circular requires financing companies to file Annual Audited Financial Statements using Forms FCFS1 and FCFS2 together with an Independent Auditor's Report and Statement of Management's Responsibility. It also requires the submission of a sworn certification from the Treasurer confirming that the accompanying diskette contains the same information as the hard copies.
For quarterly reporting, financing companies must submit Forms FCQF1 and FCQF2 within forty-five (45) days after the end of each quarter, replacing the previous quarterly reporting format.
Full Text
CFD Memorandum Circular No. 12
Series of 2002
TO: ALL FINANCING COMPANIES
RE: SUBMISSION OF SPECIAL FORMS FOR FINANCIAL STATEMENTS AND QUARTERLY REPORTS
In relation to SEC Memorandum Circular No. 2, Series of 2001, every Financing Company is hereby required to submit the following:
(1) Four (4) hard copies and a diskette of the Financing Company's Annual Audited Financial Statements 1 (FCFS1) and 2 (FCFS2), accompanied by an Independent Auditor's Report and Statement of Management's Responsibility duly stamped "Received" by the Bureau of Internal Revenue within one hundred twenty (120) days (one hundred five (105) days for a corporation whose securities are registered under the Securities Regulation Code) after the end of the fiscal year as specified in its by-laws.
(2) A certification under oath by the Treasurer that the diskette contains the same data as those in the hard copies of the company's Annual Audited Financial Statements.
(3) Four (4) hard copies of the Financing Company's Quarterly Forms 1 (FCQF1) and 2 (FCQF2) within forty-five (45) days from the end of every quarter in lieu of the current form of quarterly reports.
Copies of the forms of the Financial Statements and Quarterly Reports are available at the main office of the Commission or at its extension offices in Cagayan de Oro City, Cebu City, Legazpi City, Baguio City, Zamboanga City, Iloilo City and Davao City.
This Memorandum Circular shall take effect fifteen (15) days after publication in a newspaper of general circulation.
Issued this 14th day of August 2002 in Mandaluyong City, Metro Manila.
(Original Signed)
LILIA R. BAUTISTA
Chairperson
Source
Official Source: Securities and Exchange Commission (Philippines)
Official URL: https://appointment.sec.gov.ph/mc-2002/sec-memorandum-circular-no-12-9/
Citation:
CFD Memorandum Circular No. 12, Series of 2002, "Submission of Special Forms for Financial Statements and Quarterly Reports," Securities and Exchange Commission (Corporation Finance Department), issued August 14, 2002.