Annual Financial Reporting Obligations for AFS Licensees

AFS licensees are required to lodge annual financial statements and an auditor's report with ASIC to comply with the Corporations Act 2001. Our firm comprises auditors with extensive experience in conducting compliance audits for Australian Financial Services Licence (AFSL) holders.

Required Documents

• Form FS70: Profit and Loss Statement and Balance Sheet, including note disclosures and the audit report.
  
• Form FS71: Auditor's Report for AFS Licensee.
  
• Form FS76: Annual Compliance Certificate (applicable to limited AFS licensees who did not handle client money during the financial year).
  

Lodgement Deadlines

The deadlines for lodging these forms depend on the licensee's structure:

• Body Corporate (Disclosing Entity): Within 3 months after the end of the financial year (e.g., by 30 September for a 30 June year-end).
  
• Body Corporate (Non-Disclosing Entity): Within 4 months after the end of the financial year (e.g., by 31 October for a 30 June year-end).
  
• Non-Body Corporate (e.g., Individual Licensees): Within 2 months after the end of the financial year (e.g., by 31 August for a 30 June year-end).
  

It's important to note that ASIC does not grant extensions for these deadlines, so timely compliance is essential.

Lodgement Process

AFS licensees must lodge their annual accounts and audit reports online via ASIC's Licensees portal. The process involves completing and signing the required forms, attaching the necessary financial statements, and submitting them through the portal.

Further Information

For detailed instructions and access to the necessary forms, please visit ASIC's official page: AFS Licensees - Lodging Annual Accounts and Audit Report

Stay Compliant with Confidence

Contact us today to arrange your AFSL compliance audit and ensure your licence obligations are met with confidence.