Filing of Audited Financial Statement at the Securities and Exchange Commission of the Philippines

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Today was deadline of the filing of the audited financial statement  for corporations at the SEC Philippines. Our financial statement was still being audited by the commissioned external auditor. The auditor was only able to send a draft and not the final copy.

Hoping to beat the deadline, I had to go the SEC to inquire whether they will accept tentative filing of financial statement. When I was at the SEC, they did not receive the tentative financial statement because they simply said that "they only receive audited financial statements once a year and they don't compromise receiving tentative financial statements unlike the BIR where you can make an amended filing".

They only accept final audited financial statement and they are very strict on this. I asked what available options do I have?  The SEC staff said that the available option is to make a late filing instead.  But there was the question on penalty.

I went to another department regarding the penalty.  They told me that the penalty for late filing of audited financial statement is five hundred pesos.

I guess there was no other choice but to come back with the final audited financial statement.

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