Financial statements from Montenegro

Schmidt & Schmidt offers financial statements from Montenegro in electronic form and their translations into English.

According to law, most companies in Montenegro must publish annual financial statements. These data are reported in electronic form or in paper.

Depending on the company’s assets, revenue, number of employees, nature of business and legal form, the law requires different amounts of data to be published.

Reporting of financial statements in Montenegro is subject to the Accounting Act and other regulations.

Accounting standards in Montenegro are mostly based on the IFRS.

Financial statements are filed to the tax office.

All companies in Montenegro are obliged to submit financial statements by joint-stock companies must be reviewed by a auditor.

Annual financial statements must be filed until the end of March of the following year.

Full financial statement includes:

• Balance sheet
• Profit and loss report
• Cash flow statement
• Equity statement
• Notes
• Auditor’s report

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

Financial statements are provided by the register for financial statements, a special department of the tax office and are public.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific enterprise, its full name and tax number are required.

Financial statements are provided in accordance with the legislation of Montenegro and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.