FIN KILA Financial Statements Delay

On May 7, FIN KILA granted exception's request to extend deadline.

  • FIN KILA granted exception permission for extended period to prepare the financial statements and consolidated financial statements to company under restructuring.
  • Requested additional time for preparation of financial statements for financial year ending on Jan. 31, 2024, so financial statements can be completed by Nov. 30, 2024.
  • Overview
  • Company, subsidiaries submitted applications for exemption to FIN KILA in Apr. 2024.
  • I.e. within deadline of 4 months from end of accounting period Jan. 31, 2024 required by Accounting Act (KPL) so they were examined and a decision on them was made.
  • FIN KILA considered the situation described in the application should be regarded as a special reason referred to in BFL §8:2.2 thus granted exception requested in the case.
  • That, if rules of Limited Liability Companies Act and Auditing Act, possible provisions of the applicant's articles of association regarding auditing and general meeting, are met.
  • Per deadline of §5:3.1 OYL mentioned in §2, it cannot grant an exception permit for a longer period than until Jul. 31, 2024; the decision cannot be appealed (§8:2.8 KPL).

Regulators FIN KILA
Entity Types Auditor; Corp
Reference Dec 2024/2066, 5/7/2024; KPL Accounting Act 1336/1997; OYL Companies Act 624/2006; Auditing Act 1141/2015
Functions Accounting; Financial; Reporting; Risk; Treasury
Countries Finland
Products Corporate
Regions EMEA
Rule Type Final
Rule Date 5/7/2024
Effective Date 7/31/2024
Rule Id 211315
Linked to N/A
Reg. Last Update 5/7/2024
Report Section EU

Last substantive update on 05/12/2024