Unlisted entities have been granted additional time to lodge their scheduled financial reports, the Australian Securities and Investments Commission (ASIC) says.

ASIC extended the deadline by one month for balance dates between December 31 and March 31.

The lodgement extension comes as a result of reporting processes taking longer due to remote work arrangements, travel restrictions and other COVID-19 impacts.

“Where possible, entities should continue to lodge within the statutory deadlines having regard to the information needs of shareholders, creditors and other users of their financial reports, or to meet borrowing covenants or other obligations,” ASIC says.

An instrument extending the deadlines is expected to be registered on the Federal Register of Legislation by the end of this week. The one-month extension will only apply where the normal reporting deadline has not already passed.