Effective 01 July 2009 the electronic Annual Financial Review (e-AFR), which has been in effect since 2004, is no longer required for submission of agents’ 2008/2009 financial statements.
IATA has engaged a global accounting firm, Charntrey Vellacott DFK LLP to review all agent Financial Review submissions with effect from Financial Year 2008/09.
This is in effect a simplification of the current procedure by elimination of the electronic submission (e-AFR), requiring that agents only submit a single hard copy of their end of financial year reports.
The deadline of submission is 30 September each year, unless otherwise approved, for example, if an agency’s accounts are governed by a different financial year reporting period. IATA must be advised by agencies in writing if this is the case.
Prompt submission of the AFR documentation will permit the thorough and timely completion of financial assessments to determine whether agencies meet the necessary criteria. This is a compulsory step in order to ensure compliance with the Passenger Sales Agency Agreement.
To assist you in submitting the correct information we invite you to click on the following documents links that outline the necessary requirements for the AFR process:
We would also like to draw to your attention that late submissions of the AFR will incur a penalty of AUD$660.00 (inclusive of 10% GST). Failure to complete or forward the necessary documentation for the AFR process will result in the agency being suspended from the BSP and subsequent removal from the Agency List.
IATA remains committed to the financial integrity of the Agency Program and seeks your cooperation in ensuring that the Annual Financial Review is completed in a timely and efficient manner.
Please do not hesitate to contact the
Agency Accreditation Services for any assistance.