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In forceLicensee financial requirementsLast checked 13 November 2026

AFS licensee annual accounts and audit report (FS70 / FS71)

A regulatory return listed by the Australian Securities and Investments Commission (ASIC), Australia.

Each AFS licensee must prepare a true and fair profit and loss statement and balance sheet for the financial year and lodge it with ASIC, together with an auditor's report that also states whether the licensee complied with ASIC's financial requirements (the conditions set out in Pro Forma 209). ASIC uses this to check that a licensee stays financially sound enough to run its business and meet client obligations. Source

Official title: Australian financial services licensee profit and loss statement and balance sheet (Form FS70) and auditor's report for Australian financial services licensee (Form FS71)

The facts

Who files
Every AFS licensee, except a limited licensee that is not required to comply with the audit requirement (one that does not deal with money under Division 2 of Part 7.8 of the Corporations Act); that licensee can instead lodge a compliance certificate, but it must still lodge financial statements. Source
How often
Once for each financial year of the licensee. Source
Deadline
Unless ASIC extends it, the statement and balance sheet must be lodged before the day that is 2 months after the end of the financial year for a licensee that is not a body corporate, or 3 months for one that is (Corporations Act s989D(1)). For a body corporate, a modification in the Corporations Regulations changes that split to 3 months after the end of the financial year for a disclosing entity or registered scheme, and 4 months for any other body corporate (reg 7.8.14A). Source
Format
Web form, PDF. Form FS70 is completed within the ASIC Regulatory Portal's 'Submit Australian financial services licence annual financial statements' transaction, as Regulatory Guide 166 itself describes (RG 166.337). Form FS71's own lodgement guide confirms it is a downloadable PDF: the auditor completes and signs it, the licensee then submits it electronically as an attachment to that same transaction, and the licensee must keep the signed copy under ASIC's Electronic Lodgement Protocol. Source
How it is filed
Filing routes recorded for the ASIC: ASIC Regulatory Portal; Australian Credit Register Portal. See how firms file with the ASIC.
Status
In force
Legal basis
Group
Licensee financial requirements

Templates (2)

The tables and forms inside the return. Plain name first, the ASIC's code in brackets.

  • Profit and loss statement and balance sheet (FS70)
  • Auditor's report, including on compliance with ASIC's financial requirements (FS71)

ASIC's Pro Forma 209 (standard AFS licence conditions) sets out, at condition 28, the specific statements the auditor's report under FS71 must contain. Source

Validation rules

No published validation rules were found for this return. No standalone, published catalogue of automated edit checks for FS70/FS71 was found among the regulatory guide, pro forma and forms pages read. The auditor instead tests compliance against the named conditions of Pro Forma 209. Source

Public data

No published data from this return was found. A document lodged under a provision of Chapter 7 of the Corporations Act, which includes FS70 and FS71 under Part 7.8, is expressly carved out of the general public right to inspect documents lodged with ASIC. Source

Official documents (7)

The ASIC's own files, with the size and SHA-256 fingerprint of each as downloaded on 13 November 2026, so anyone can tell whether a copy is the same version.

Sources

Every page and document this return's facts were read from.

Knowing exactly what is collected, in what format and under which rules is the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.

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© Australian Securities & Investments Commission. Material drawn from ASIC's regulatory guides, information sheets, forms, pro forma documents, legislative instruments and annual reports (https://asic.gov.au) is used under the Creative Commons Attribution 4.0 International licence (https://creativecommons.org/licenses/by/4.0/); this library summarises it in plain English and links the originals.

Based on content from the Federal Register of Legislation at 13 November 2026. For the latest information on Australian Government legislation please go to https://www.legislation.gov.au.

Last checked 13 November 2026.