Categories: News

SECP introduces email account for electronic transmission of Financial Statements

Company Ordinance 2016 recently added a provision that requires all the listed companies to send quarterly financial statements electronically to the Security and Exchange Commission of Pakistan (SECP).

SECP’s law division disseminated Circular no. 19 stating, “Transmission of annual and quarterly Financial Statements of Listed Companies to the Commission”. Besides hard copies of auditor’s report, director’s report, chairman’s review report and financial statements, listed companies shall also send the electronic copy of quarterly financial statements to the Commission.

The designated email address is financial.statements@secp.gov.pk. Companies are required to transmit the statements and other reports in both PDF as well as MS word/excel format. The electronic submission is not the alternate for hard form submission. Listed companies should send the reports and statements, both electronically and in hard form. Three hard copies are required to be sent to Commission.

Previously, approval of Commission and shareholders was required in order to send the reports electronically but this has been rendered superfluous by the Ordinance and hence withdrawn. The new provision in Company Ordinance encourages the use of technology in conducting business.

The circular was distributed to CEOs of all listed companies through email, Presidents of Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) and was also placed on SECP’s website.

Sponsored
Maheen Kanwal

Maheen Kanwal is a Tech Journalist at TechJuice. She covers the latest technological, telecom and business related, local & global news. (Reach at maheen@techjuice.pk)

Share
Published by
Maheen Kanwal

Recent Posts

Rumors Indicate iPhone 17 May Feature Unconventional Camera Design

Apple is reportedly preparing for a significant design overhaul with its iPhone 17 series, blending…

13 hours ago

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

14 hours ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

16 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

16 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

17 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

18 hours ago