How do I prepare GPFR for AFSL licenses

This article is for you if you would like US to prepare the report for you

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We do this for you:

  1. We provide a service to do it for you
  2. Please reach out via our website
  3. We can prepare them in 3 to 5 business days

 

This 3 minute video explains the process.

 


 

ASIC Press release June 2022:

 

Under the new reporting requirements, AFS licensees’ financial reports must contain disclosures consistent with the financial reports of other for-profit entities, prepared under standards set by the Australian Accounting Standards Board (AASB). 

An Australian financial services (AFS) licence authorises licensees to:

  • provide financial product advice to clients;

  • deal in a financial product;

  • make a market for a financial product;

  • operate a registered scheme;

  • provide a custodial or depository service;

  • provide traditional trustee company services.

An AFS licence is required to conduct a financial services business.

Under the new reporting requirements, AFS licensees’ financial reports must contain disclosures consistent with the financial reports of other for-profit entities, prepared under standards set by the Australian Accounting Standards Board (AASB).

From financial years commencing 1 July 2021, for-profit companies, registered schemes and disclosing entities that prepare financial reports under Chapter 2M of the Corporations Act 2001 (the Act), and which are not reporting entities, can no longer prepare special purpose financial reports (SPFRs) that do not contain all disclosures required in the full accounting standards.