The Australian Securities & Investments Commission (ASIC) – which in April provided unlisted entities with December 31, 2019 to March 31, 2020 year ends additional time to lodge their financial reports – has now extended the deadlines for all listed and unlisted entities for balance dates to July 07, 2020.
“The extended deadlines for lodgement of financial reports will assist those entities whose reporting processes take additional time due to current remote work arrangements, travel restrictions, and other impacts of COVID-19,” said ASIC.
“Where possible, entities should continue to lodge within the normal statutory deadlines, having regard to the information needs of shareholders, creditors, and other users of their financial reports, or to meet borrowing covenants or other obligations.”
According to the regulator, unlisted entities will now be able to take one additional month to lodge financial reports for year ends from December 31, 2019 to July 07, 2020.
Listed entities, meanwhile, will be able to take one additional month to report for full-year and half-year financial reports for February 21, 2020 to July 07, 2020 balance dates. However, they will be required to inform the market when they rely on the extended period for lodgement.
