Company financial statements: filing on Qawaem, the deadline and the auditor exemption

Deadline and who files

All types of company file their financial statements within 6 months of the financial year-end through the Qawaem platform. In a limited liability company they are filed by the manager or board of managers, and in a simplified joint stock company by the chair, the manager or the board ^[1].

Exemption from appointing an auditor

Micro and small companies are exempt from appointing an auditor if their annual revenue and their assets each do not exceed SAR 10 million and they have no more than 49 employees ^[2].

Exemption from an auditor is not exemption from preparing and filing the statements.

Beneficial ownership

Companies must identify, disclose and keep their beneficial ownership information, which is linked to incorporation and to the annual confirmation of the registration ^[3].

Who prepares the statements?

Preparing and auditing financial statements is accounting work carried out by professionals licensed by the Saudi Organization for Chartered and Professional Accountants (SOCPA). Madrous does not prepare audited financial statements and does not provide accounting services.

Frequently asked questions