"Commerce" Clarifies Those Responsible for Preparing and Filing Financial Statements of Companies

"التجارة" توضح المسؤولين عن إعداد وإيداع القوائم المالية للشركات

The Ministry of Commerce clarified who must prepare and file companies' financial statements. For non-listed joint-stock companies, the board prepares statements each fiscal year-end, submits them to the auditor (if any) 45 days before the general assembly, and the chairman must give shareholders a copy 21 days before the annual general assembly and deposit them with the Saudi Center for Economic Business via the "Qawaem" e-filing platform. Limited liability companies follow the same 45-day/21-day timelines under their manager, simplified joint-stock companies present statements to shareholders within 6 months of fiscal year-end, and partnerships assign the duty to their manager(s) or partners. All company types must deposit statements electronically within 6 months of fiscal year-end; the page was last updated 25 Jumada al-Thani 1447 AH.

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