A. The GFFS
and SFFS in electronic format shall be submitted within
thirty (30) days from the last day of submission of the Annual
Audited Financial Statements (AAFS).
SEC Memorandum Circular No. 6 s. 2006
is applicable to the following:
domestic stock corporations with annual gross sales or gross
revenue of at least Five Million Pesos
Companies and Publicly-held Companies enumerated in Section
17.2 of the Securities Regulation Code;
Houses or Underwriters of Securities;
- Pre-Need Plan
Brokers/Dealers in Securities;
Eligible Securities Dealers (GSED);
- All other
market participants and self-regulatory organizations (e.g.
Exchanges, Alternative Trading Systems, and Clearing
B. The Treasurer,
Chief Financial Officer, or a person occupying an
equivalent rank in the company, shall certify under oath
that, except for certain details/breakdowns required in the
GFFS and SFFS, the Generally Accepted Accounting Principles in
the Philippines (GAAP) prescribed accounts and figures
provided in electronic documents are based on the contents of
the AAFS submitted to SEC.
Insurance companies, non-stock corporations, branch and
representative offices of foreign corporations, and
regional headquarters and regional operating headquarters
of multinational corporations are not covered by this Memorandum
Circular, and therefore, not required to submit the GIS, GFFS,
and SFFS in diskette or CD.
D. Pursuant to SRC
Rule 68, corporations with subsidiaries are required to
submit to the Commission both their parent and consolidated GFFS
or SFFS, the figures of which shall be based on the audited
financial statements. Each FS shall clearly indicate whether it
is the “Parent” or “Consolidated” GFFS or SFFS.
E. Corporations that
qualify as Non-Publicly Accountable Entities under Philippine
Accounting Standard 101, which will avail themselves of the
temporary relief provided therein, are allowed to use the old
GFFS template during the first year of implementation of SEC
Memorandum Circular No. 6 s. 2006.