المملكة: “Trade” issues important instructions for the companies that have ended in their financial year

The Ministry of Trade called on companies that have ended in the end of 2024, to deposit their financial lists with a maximum date on Monday 30 June 2025, in order to avoid the incidence of financial fines according to the corporate system.
The Ministry stated that companies must prepare financial statements at the end of each fiscal year in accordance with the accounting standards approved in the Kingdom, and deposit them within (6) months from the date of the end of the fiscal year, based on Article (17) of the corporate system.

Companies ended their financial Sunnah

The responsibility for depositing the financial statements is based on the company’s president, the company’s manager, or the chairman of the board, according to the form of the company.
While depositing the financial statements contributes to achieving the regular requirement according to the form of the company, clarifying its activity and performance, its commitment to market rules and performance indicators, and avoiding its subjected to legal accountability for its violation of the corporate system.
Besides helping shareholders and partners to monitor the performance of companies and do a financial analysis of financial statements, assess the extent of governance and transparency for companies, in addition to granting financing and lending bodies confidence in the company.

Preparing financial statements according to accounting standards

The Ministry confirmed that the company, which violates its duty to prepare the financial statements in accordance with the accredited accounting standards or deposit them in accordance with the provisions of the system, is punished with a fine.
According to Article (262) of the corporate system, calling for the preparation and deposit of financial statements electronically through a lists platform through the following link :.