Notification of Revised Financial Statements

You may select this NOE transaction if you need to re-file your company’s financial statements which have been revised to correct non-compliance(s) with the requirements of the Companies Act and accounting standards. Applying to court to expunge the Annual Return filing (with the original financial statements) is no longer required.

The revised financial statements must meet all requirements (including a new directors’ statement which replaces the original directors’ statement, description of non-compliance, disclosure of the material revisions and amended auditor’s report, if applicable) as set out in the Companies (Revision of Defective Financial Statements or Consolidated Financial Statements or Balance-sheet) Regulations 2018 under section 202A of the Companies Act. Further guidance is available here.

Revised financial statements should be filed within 30 days from date of revision (i.e. the date directors approved the revised financial statements, as reflected in the new directors’ statement). Otherwise, a late filing penalty will be imposed, as explained here.

Revised financial statements should be sent within 30 days from the date of revision to all persons to whom the original financial statements had been sent and all person entitled to receive the notice of general meeting as at the date of revision.

Application fee: $200 (non-refundable).

Note: This transaction should not be selected to correct filing errors in Annual Return transactions or XBRL financial statements. Please refer to Correcting an error in your XBRL financial statements for more information.

Outcome of application

You will receive an email notification on the outcome of your application within one month.

Upon approval, the NOE transaction and the revised financial statements will be tagged to the original Annual Return with the original (erroneous) financial statements. All records will be available in BizFile+.

Should your application be rejected, you will be advised of the reason(s) and next course of action.

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