Financial statements from Iraq

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

According to law, companies registered in Iraq must submit annual financial statements.

Reporting of financial statements in the Iraq is subject to the Companies Act and other regulations.

In Iraq, the IFRS are used. Their use is mandatory for large public companies and allowed for small and medium-sized companies.

Annual financial statements are filed to the Department of companies’ registration subordinate to the Ministry of Trade of Iraq. In addition, companies selling their shares publish their financial statements through the stock exchange.

Annual financial statement includes:

• Balance sheet
• Profit and loss report
• Notes

Information on a company, including financial information, can be requested from the Department of companies’ registration after proving a legitimate interest.

Financial statements of companies participating in stock exchange are obtainable from the website of the stock exchange.

To obtain financial statements of a specific enterprise, its full name in Arabic language and registration number are required.

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 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 legislation of Iraq 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.