Corporate Affairs Commission urge companies to file their annual returns

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CAC-Corporate Affairs Commission

Corporate Affairs Commission CAC has urged companies operating in the country to file their annual returns as provided by the law or risk being de-listed from its register.

CAC Head Public Affairs, Moses Adaguusu, said the call became necessary in view of the need to keep the commission abreast of companies still in operation or otherwise.

An annual return is a mandatory requirement every enterprise or incorporated trustees must file annually by delivering to CAC a return in the prescribed form containing specified matters related to the organisation in accordance with Companies and Allied Matters Act (CAMA).

While emphasising that the Enforcement and Monitoring Department of the Commission would intensify efforts to ensure compliance, Adaguusu urged companies to embrace voluntary compliance.

He emphasised that the task before the Monitoring and Enforcement Department was to ensure that companies do not only file their annual returns but stay away from sharp practices.