ISLAMABAD: The Securities and Exchange Commission of
Pakistan (SECP) has directed listed companies to forward electronic
copies of quarterly and annual financial statements along with other
documents.
As per the requirements under Companies Act
2017, every listed company has to file annual financial statements and
other documents (auditors’ report, directors’ report and chairman review
report) through post to the corporate sector regulator.
The financial statements often run in hundreds of pages at least.
However,
now the SECP has decided that listed companies need to send an
electronic copy of the annual financial statements along with other
reports to the commission.
“This provision has been
added to the Act to ensure effective compliance by listed companies at a
reduced cost,” the SECP spokesman said.
The SECP has
issued a circular No 24/2017 for electronic transmission of financial
reports. To facilitate filers, the commission has designated an email
address ‘financial.statements@secp.gov.pk’.
The SECP has
further directed listed companies to transmit annual and quarterly
financial statements in both ‘PDF’ and ‘MS Excel’ formats via email.
