Who can lodge Form 388?

Public, large proprietary, small proprietary foreign-controlled companies, registered schemes and trusts must lodge a copy of financial statements and reports annually accompanied by this form.

Who can lodge ASIC forms?

Financial statements and reports must be lodged each year by:

• public companies.
• a Tier 2 public company limited by guarantee.
• registered schemes.
• large proprietary companies.
• foreign-controlled small proprietary companies.
• a small proprietary or small company limited by guarantee that is requested by ASIC.

How do I lodge ASIC form FS70?

Lodge your accounts online. You can lodge your annual accounts and audit report online via our Licensees portal. You should complete, sign and retain your signed original form FS70 , FS71 and/or FS76 for your records. The licensee downloads and prints out copies of the forms FS70 and FS71.

How long does ASIC take to process forms?

Whilst no issuing body can guarantee a turnaround time for approvals due to dependencies on the duration of federal background checks, Veritas strives to deliver ASICs within 2-3 weeks* of application lodgement.

Who needs to prepare financial statements?

Annual financial statements must be prepared by all entities except small proprietary companies. The annual financial statements consist of a balance sheet, a profit and loss statement and a cash flow statement.

What are general purpose financial statements?

General purpose financial statements are those financial statements released to a broad group of users. They are intended for a wide range of uses, such as credit analysis and stock valuations. These statements are used to discern the financial condition and results of the issuing entity.

Can you lodge ASIC forms online?

Registered liquidators (those registered as a liquidator by ASIC under s1282 of the Corporations Act 2001) can lodge all external administration forms online with ASIC via the ASIC Registered Liquidator portal. This is the fastest and most accurate way to lodge this key documentation.

Does ASIC accept digital signature?

Will ASIC accept electronic signatures on forms and documents required when applying to register a scheme? ASIC will accept an electronic signature on the Form 5100 Application for registration of a managed investment scheme when the form is lodged through the AFS licensee portal or the registered agent portal.

What is ASIC Regulatory Portal?

The ASIC Regulatory Portal is your central access to ASIC’s growing suite of digital services. It’s an important first step on our journey to improve your experience when transacting and interacting with us and how we deliver online services to you over time.

What is an FS 71?

Form FS71. Description. Auditor’s Report for AFS Licensee. Purpose. Lodged with FS70.

How long does an ASIC check take?

between two and eight weeks
Generally, it takes between two and eight weeks for your background check to be completed, but sometimes it can take longer depending on the circumstances. What kind of residential history do I need to provide for an ASIC application?

Are financial statements mandatory?

Annual financial statements must be prepared by all entities except small proprietary companies. The Corporations Law also provides that consolidated financial statements must be prepared where the preparation of such statements is required by an accounting standard.

How to fill out and sign ASIC form 388?

Use this step-by-step guide to complete the Asic form 388 2013-2019 quickly and with excellent accuracy. To get started on the document, use the Fill & Sign Online button or tick the preview image of the form. The advanced tools of the editor will lead you through the editable PDF template. Enter your official identification and contact details.

What do you need to know about form 388?

This guide covers how to complete the Form 388, appoint an auditor and attach financial statements and reports. This form can also be used: • to notify the appointment of an auditor to the company (but not a scheme) when lodging financial statements and reports, or • when amending previously lodged financial statements and reports.

Who is required to file financial statements with ASIC?

Financial statements and reports must be lodged each year by: • public companies • a Tier 2 public company limited by guarantee • registered schemes • large proprietary companies • foreign-controlled small proprietary companies • a small proprietary or small company limited by guarantee that is requested by ASIC.

How to lodge a paper form with ASIC?

This page provides information on how to lodge paper forms with ASIC. In most cases, the Corporations Act 2001 (Corporations Act) and Corporations Regulations 2001 (Corporations Regulations) state what information you must send us and how you must present this information.