Use of Unaudited Financial Statements Templates for Non-Stock Corporations with Total Assets or Total Liabilities of Less than PHP600,000.00

August 30, 2023 SEC NOTICE TO : All Non-Stock Corporations with Total Assets or Total Liabilities of Less than Php600,000.00 SUBJECT : Use of Unaudited Financial Statements Templates for Non-Stock Corporations with Total Assets or Total Liabilities of Less than Php600,000.00 The Commission En Banc resolved in its meeting on 12 May 2022 the approval on the use of unaudited financial statements templates as optional for non-stock corporations with total assets or total liabilities of less than Php600,000.00. HTcADC Sec. 177 of the Revised Corporation Code provides that corporations shall submit to the Commission their annual financial statements as part of their reportorial requirements. To assist non-stock corporations with total assets or total liabilities of less than Php600,000.00 in preparing their unaudited annual financial statements, the SEC hereby introduces a template that may be utilized, at the subject corporation's option, relative to their compliance with the annual reportorial requirement. All non-stock corporations with the aforesaid threshold for an FS may utilize the templates of "Statement of Financial Position" and "Statement of Income and Expenses" in their submission for annual reportorial requirement. You may download the templates through this link and are hereby advised to check the general instruction as guidance in accomplishing the forms. The accomplished templates including the applicable explanatory notes to the financial statements shall be printed and certified under oath by the non-stock corporation's Chief Finance Officer or Treasurer. Further, a notarized financial statement is required to be uploaded via the online portal. The optional use of the Unaudited FS template shall become effective for annual Financial Statements covering periods ending 31 December 2023 and onwards. The foregoing information and documents shall be submitted through the Electronic Filing and Submission Tool (eFAST) at https://efast.sec.gov.ph/user/login in the filing of Financial Statements. For guidance and information. Thank you. ATTACHMENTS Statement of Financial Position Statement of Income and Expenses