The government, through the Sacco Societies Regulatory Authority (SASRA), has directed all regulated Savings and Credit Cooperative Organisations (SACCOs) to submit their audited financial statements by March 15, 2026.
In a regulatory notice issued on Friday, January 9, SASRA announced that the statutory filing window runs from January 1 to March 15, 2026, in line with Section 41 of the SACCO Societies Act.
“Notice is hereby issued to all SACCO boards, supervisory committees, management and external auditors to submit audited financial statements,” SASRA stated.
Mandatory Compliance Under SACCO Law
SASRA reiterated that submission of audited accounts is a legal requirement, not optional, for all SACCOs under its supervision.
“All regulated SACCOs are required to submit their audited financial statements to the Authority in compliance with Section 41 of the SACCO Societies Act,” the regulator added.
The Authority explained that the deadline allows adequate time for regulatory review, financial compliance checks, and approval of accounts by March 31, 2026, ahead of SACCO Annual General Meetings (AGMs).
Early Filing Critical for AGM Approval
According to SASRA, SACCOs that submit their financial statements early benefit from faster approvals and reduced risk of AGM delays.
“The submission period runs from January to March 15, 2026, to allow approval by March 31, 2026. Early submission supports timely approvals and smooth conduct of AGMs,” SASRA said.
No Regulatory Fees for Financial Statement Approval
SASRA also addressed concerns from SACCO officials and auditors regarding costs, clarifying that no fees are charged for reviewing or approving audited financial statements.
“All regulatory approvals issued by the Authority, including approval of audited accounts, are offered free of charge,” the notice confirmed.
Why Audited Financial Statements Matter
Submission of audited accounts is critical to:
- Protect members’ savings and deposits
- Ensure financial transparency and accountability
- Detect fraud, misappropriation, or governance weaknesses
- Confirm the financial stability and liquidity position of SACCOs
Audit reports also help regulators assess whether a SACCO can safely continue operations without exposing members to financial risk.
Penalties for Non-Compliant SACCOs
SACCOs that fail to submit audited financial statements within the stipulated period will be classified as non-compliant and may face sanctions and penalties under the SACCO Societies Act.
Such penalties may include regulatory action that could affect a SACCO’s operations, reputation, and member confidence.
How to Seek Clarification
SASRA urged SACCO boards, management teams, and auditors to submit documents early and seek clarification through its official channels, including its toll-free number 0800724422 and official email address.
The Authority reaffirmed its commitment to financial sector stability, cooperative governance, and protection of SACCO members’ funds.
Frequently Asked Questions (FAQ)
What is the SASRA deadline for SACCO audited accounts?
The deadline for submitting audited financial statements is March 15, 2026.
Which law requires SACCOs to submit audited financial statements?
The requirement is provided under Section 41 of the SACCO Societies Act.
Does SASRA charge fees for approving audited accounts?
No. SASRA has confirmed that approval of audited financial statements is free of charge.
What happens if a SACCO misses the deadline?
The SACCO will be declared non-compliant and may face regulatory penalties under the SACCOs Act.
Why is early submission recommended?
Early filing allows SASRA to complete approvals by March 31, 2026, enabling smooth Annual General Meetings (AGMs).