Algeria

Financial Reporting Obligations for Companies in Algeria

1. Registry for Submitting Financial Statements

In Algeria, companies are required to submit their financial statements (annual reports) to the Centre National du Registre de Commerce (CNRC) (https://sidjilcom.cnrc.dz/), also known as the National Center for the Trade Register. The CNRC handles the registration and submission of financial statements for businesses across various legal forms.

2. Legal Forms Obliged to Publish Financial Statements

In Algeria, the following legal forms are required to submit and publish their financial statements to the Centre National du Registre de Commerce (CNRC) (https://sidjilcom.cnrc.dz/):

  • Société à responsabilité limitée (SARL)
    Translation: Limited Liability Company
    Notes: Must submit annual financial statements to the CNRC.
  • Société par actions (SPA)
    Translation: Joint Stock Company
    Notes: Mandatory audit and submission of annual financial statements to the CNRC and must also comply with stock exchange regulations if listed.
  • Société en nom collectif (SNC)
    Translation: General Partnership
    Notes: Required to submit annual financial statements but only needs to be audited if financial thresholds are exceeded.
  • Société en commandite simple (SCS)
    Translation: Limited Partnership
    Notes: Similar to SNC; required to submit annual financial statements but audits are only necessary if financial thresholds are exceeded.
  • Société en commandite par actions (SCA)
    Translation: Partnership Limited by Shares
    Notes: Must submit financial statements and is subject to audit if certain thresholds are exceeded.
  • Société coopérative (SCOP/SCOPAR)
    Translation: Cooperative Society
    Notes: Cooperatives must submit financial statements and are subject to audit depending on the size and activity of the cooperative.
  • Etablissement Public à caractère Industriel et Commercial (EPIC)
    Translation: Public Industrial and Commercial Establishment
    Notes: Public entities are obliged to submit financial statements in compliance with state regulations and may undergo audits depending on the size and industry.

Legal Forms Not Obliged to Publish Financial Statements:

  • Entreprise individuelle (EI)
    Translation: Sole Proprietorship
    Notes: Not required to publish financial statements but must maintain financial records for tax purposes.
  • Groupement d’intérêt économique (GIE)
    Translation: Economic Interest Grouping
    Notes: Not required to publish financial statements unless it exceeds specific thresholds in terms of economic activity.
  • Association à but non lucratif (Association)
    Translation: Non-Profit Organization
    Notes: Not obliged to submit financial statements unless engaged in economic activities beyond a certain threshold.
  • Micro-entreprise
    Translation: Micro Enterprise
    Notes: Micro-enterprises with very small turnover may not need to submit full financial statements, but they must still maintain records for tax purposes.

3. Companies Requiring Audited Financial Statements

In Algeria, the Loi relative aux Activités des Commissaires aux Comptes (Auditors Activities Act) (https://www.joradp.dz/) governs which companies must audit their financial statements. The requirement for an audit depends on the company's legal form and whether it meets certain financial thresholds (such as turnover, total assets, and number of employees). Below is a table listing the legal forms, audit rules, and criteria that companies must meet to undergo mandatory audits.

Legal Form

Audit Rule

Criteria (Must Meet at Least Two of the Three)

Société à responsabilité limitée (SARL)

Mandatory audit if thresholds are exceeded

- Turnover (more than) DZD 50 million
- Total assets (more than) DZD 25 million
- More than 100 employees

Société par actions (SPA)

Audit always required

No thresholds; audit is always mandatory for joint stock companies (SPA).

Société en nom collectif (SNC)

Audit required if thresholds are exceeded

- Turnover (more than) DZD 50 million
- Total assets (more than) DZD 25 million
- More than 100 employees

Société en commandite simple (SCS)

Audit required if thresholds are exceeded

- Turnover (more than) DZD 50 million
- Total assets (more than) DZD 25 million
- More than 100 employees

Société en commandite par actions (SCA)

Audit required if thresholds are exceeded

- Turnover (more than) DZD 50 million
- Total assets (more than) DZD 25 million
- More than 100 employees

Coopérative (SCOP/SCOPAR)

Audit required if thresholds are exceeded

- Turnover (more than) DZD 50 million
- Total assets (more than) DZD 25 million
- More than 100 employees

Etablissement Public à caractère Industriel et Commercial (EPIC)

Subject to audit based on government regulations

No specific financial thresholds; audits are required by law depending on sector and size.

Branches of foreign companies

Audit depends on parent company obligations

Subject to both Algerian and parent company audit requirements if local thresholds apply.

4. Local Stock Exchange and Financial Statements Publication

Companies listed on the Algerian stock exchange, the Bourse d'Alger (Algiers Stock Exchange) (https://www.sgbv.dz/), must publish their financial statements in accordance with the exchange's regulations.

5. Deadline for Submitting Financial Statements

The deadline for submitting financial statements to the CNRC is within six months after the end of the fiscal year for most legal forms. Listed companies may have stricter deadlines as per stock exchange regulations.

6. Companies Submitting Partial Financial Statements

Certain smaller legal entities with lower turnover or total assets (below DZD 25 million) are allowed to submit simplified financial statements. These companies typically include small businesses and cooperatives.

7. Consequences for Late Submission of Financial Statements

Failure to submit financial statements on time can result in penalties, including fines ranging from DZD 10 000 to DZD 100 000. If a company fails to comply within an extended deadline, it may be struck off the CNRC register.

8. Requirements for Foreign-Owned Branches and Newly Established Companies

Foreign-owned branches in Algeria must submit financial statements in line with both Algerian law and the regulations of their parent company. Newly established companies have until the end of their first fiscal year to submit initial financial statements. Audit requirements depend on the legal form and whether they exceed specific thresholds.

Sources

Source Link
Centre National du Registre de Commerce (CNRC) https://sidjilcom.cnrc.dz/
Loi relative aux Activités des Commissaires aux Comptes (Auditors Activities Act) https://www.joradp.dz/
Bourse d'Alger (Algiers Stock Exchange) https://www.sgbv.dz/
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