On 09 July 2024, the Accounting and Auditing Regulator (“ACAR”) issued a Notification (Notification number not applicable) regarding the obligation to submit annual audited financial statements for the 2023 financial year which will fall on 20 July 2024, ACAR has decided to provide 30 days delay for the submission of the audited report to support enterprises and non-profit organizations that have not been ready to complete their audited financial statements. The notification contained the following key points:
For those enterprises and non-profit organisations with 31 December financial year-end that are required to have their 2023 annual financial statements audited must submit their audited financial statements to ACAR by no later than 20 August 2024. Those enterprises and non-profit organizations that have financial year-end other than 31 December must submit their audited financial statements to ACAR no later than 7 months 20 days from the date of the year-end account closing.
Enterprises and non-profit organisations can submit a letter request for the delay in completion of the audited financial statements to ACAR no later than 30 July 2024 by paying the prescribed government fee as set out in Prakas No. 001 MEF dated 12 January 2022 on public service fee from the Accounting and Auditing Regulators.
