Submitting financial statements? Don’t forget to validate your data

As we approach the busiest time for financial statement reporting we want to remind all regulated businesses to make sure they validate the data in their myJFSC financial statement forms before submission.

We’re seeing a few issues with figures in the myJFSC financial statements form not matching the form of rounding used in the financial statements. Businesses should double check that the figures they are reporting align to the form of rounding used.

For example, if a business has the below information recorded in their profit and loss statement, the answer to the question “Confirm the form of rounding used in preparation of the Financial Statements*” should be “,000s(thousands)”.

This information would then be detailed in the business’ myJFSC financial statement form as:

Confirm the form of rounding used in preparation of the financial statements

Revenue

Operating/administrative expenditure

Result for the period after tax

For more information read our guide to submitting financial statements and associated documents on myJFSC.

If you have any difficulties using myJFSC or submitting your information, email us at regulatorymaintenance@jerseyfsc.org

This process does not apply to entities with a deposit-taking licence or regulated funds. Equally it does not include Companies Registry filings.