Secondary

Submission of financial statements

Last week, the FSB published an extensive list of licences which were withdrawn due to the non-submission of financial statements.

If your financial year ends on 28 February, you are obliged to submit your financial statements to the FSB by the end of June. Those who successfully applied for an exemption from submitting audited statements need only submit an income statement and balance sheet, as indicated in the following table.

Please make sure that you attend to this in time. Should you not be able to do so, you can ask for an extension. Such application has to be submitted at least two weeks before the due date to Faisfins2@fsb.co.za or Faisfins3@fsb.co.za. A maximum extension of two weeks will be granted. Requests should be properly motivated, and will not be considered if there are any other outstanding reports.

The above information, as well as the table below, is contained in the “General matters” presentation by the FSB on 7 March. If you require a DVD of the whole presentation, plase click here for details on how to obtain a copy.

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