Financial statements from Saudi Arabia

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

In accordance with the law, a significant part of enterprises in Saudi Arabia is required to submit annual financial statements. The transmission of this data takes place electronically.

The filing of financial statements in Saudi Arabia is regulated by royal decrees.

Saudi Arabia applies International Financial Reporting Standards (IFRS).

Financial statements in Saudi Arabia are filed with the Ministry of Commerce and Investment, which is responsible for maintaining the trade register. In addition, companies are required to disclose their financial statements.

Financial statements must be submitted before March 31 of the year following the reporting one. For late submission sanctions will be imposed.

Full annual financial statement includes:

• Balance sheet
• Profit and loss report
• Cashflow
• Other documents

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.

The provision of financial and balance sheet documentation is carried out by the Register of Companies. For information, you can use a special online service. In addition, you can use the services of financial portals on which Saudi companies disclose their reports.

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

To request financial reporting data for Saudi Arabian enterprises, you need to know the full name of the company in Arabic, the date of registration on the Islamic calendar and the registration number of the company.

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