Annual Reports (SEC Form 17-A) and AFS of publicly-listed companies (PLCs) ii. Director, National Professional Services Group, PwC US Registered management investment companies and unit investment trusts affected by Coronavirus from Form N-CEN and Form N-PORT filing deadlines; for which the original due date is on or after the date of the original order but on or prior to June 30, 2020.
“Most CFOs don’t expect to avail themselves of the SEC’s extension at this time,” Gannon said. I have also filed stories from Iraq and the Horn of Africa during 13 months as an embedded war correspondent for Stars and Stripes.I write about corporate finance and the evolving role of CFOs. In the case of foreign corporations, the GIS was due 30 calendar days from the anniversary of the issuance of their SEC licenses. On March 4, 2020, the Securities and Exchange Commission (SEC) issued an Order providing some regulatory relief to publicly traded companies with operations in areas affected by the Coronavirus Disease 2019 (COVID-19). Also, the staff of the SEC’s Division of Corporation Finance has provided its current views on a number of COVID-19-related matters.Under the March 25 order, public companies that are unable to meet filing deadlines due to COVID-19-related circumstances will have an additional 45 days to submit certain disclosure reports (e.g., Forms 10-K, 10-Q, 20-F) that would otherwise have been due between March 1 and July 1, 2020. Meanwhile, the GIS should have been submitted within 30 calendar days from the actual annual stockholders’ or members’ meeting for stock and nonstock corporations. The SEC’s move extends the window for relief through a second three-month reporting period. The influence of CFOs is no longer limited toI am the editor of the CFO Network at Forbes, focusing on the evolving role of finance chiefs in and outside the workplace. Companies would not need to file a Form 12b-25 (Notification of Late Filing) as long as the report is filed within the 45 day time frame.The SEC also reiterated its previous guidance for how the relief will impact certain other areas, such as eligibility to use Forms S-3 and S-8 and the availability of the SEC’s existing late filing notification requirements (Exchange Act Rule 12b-25) for annual and quarterly reports that are subject to the 45-day extension but are not able to be filed by the extended due date.Separately, the SEC reminded all public companies and related persons (e.g., officers, directors, corporate insiders) to consider their activities (e.g., engaging in securities transactions with the public) in light of their disclosure responsibilities under the federal securities laws. The original order extended the filing deadlines on or prior to April 30, 2020. Our In depth addresses FAQs on a range of COVID-19 accounting impacts. International Accounting Leader, National Professional Services Group, PwC US “Many finance organizations are not working in their offices and operating their financial reporting function from a distance.” Wright noted that companies that seek the filing extension have to explain why they need the extra time, in a filing. Understanding the indirect impacts of the coronavirus can prepare management to communicate key information to stakeholders. Corporations with 1 and 2 as the last numerical digits of their registration or license numbers need to file their annual financial statements on June 29, 30, and July 1, 2, 3, 6, 7, 8, 9, 10. Companies must furnish a Form 8-K (or Form 6-K) for each filing that is delayed. (Photo by John Lamparski/WireImage)The federal watchdog agency that monitors the financial disclosures of public companies said Wednesday it was offering an extension for some filings as corporations grapple with global efforts to contain COVID-19.The U.S. Securities and Exchange Commission said companies can seek a 45-day extension for filings due between March 1 and July 1. The SEC approved the extension in light of the Luzon-wide enhanced community quarantine imposed by the government since March 15 because of the coronavirus disease 2019 or COVID … The filing relief can now be applied to March 31, 2020 Forms 10-K and 10-Q. Public companies unable to meet their SEC filing deadlines due to circumstances related to COVID-19 may qualify for relief under an SEC March 25 order. (Photo by John Lamparski/WireImage) ... which means that the SEC action will likely be …
The audit of a company’s financial results — the independent verification of a firm’s statements — is one such key process in the production of annual reports, for example, that can require an on-site review of inventory or in-person visits to go over transactional records.“A dispersed workforce is the principal concern,” said Christopher Wright, a managing director for Protiviti, a consultancy, and a former audit partner at KPMG, one of the so-called Big Four accounting and audit firms. “The capital markets are always well served by accurate and timely financial reporting, which form the basis for many investment decisions,” Wright said.