Bosnia and Herzegovina

Financial Reporting Obligations for Companies in Bosnia and Herzegovina

1. Registry for Submitting Financial Statements

In Bosnia and Herzegovina, companies are required to submit their financial statements (annual reports) to the "Agencija za posredničke, informatičke i financijske usluge" (APIF) (https://www.apif.net/) for Republika Srpska and the "Financijska-informativna agencija" (FIA) (https://www.fia.ba/) for the Federation of Bosnia and Herzegovina. Submissions can be made electronically via their respective portals.

2. Legal Forms Obliged to Publish Financial Statements

In Bosnia and Herzegovina, the legal forms that are obliged to submit and publish their financial statements (annual reports) are as follows:

  • Društvo sa ograničenom odgovornošću (d.o.o.)
    Translation: Limited Liability Company
    Notes: Required to submit annual financial statements to the relevant registry (APIF/FIA).
  • Dioničko društvo (d.d.)
    Translation: Joint Stock Company
    Notes: Must submit annual financial statements and is subject to mandatory audits regardless of size.
  • Javno preduzeće (j.p.)
    Translation: Public Enterprise
    Notes: Obliged to submit annual financial statements and undergo audits due to their public nature.
  • Komanditno društvo (k.d.)
    Translation: Limited Partnership
    Notes: Required to submit annual financial statements but only subject to audits if financial thresholds are exceeded.
  • Javno trgovačko društvo (j.t.d.)
    Translation: General Partnership
    Notes: Must submit annual financial statements; audit required only if financial thresholds are exceeded.
  • Zadruga
    Translation: Cooperative
    Notes: Required to submit annual financial statements and undergo audits if financial thresholds are met.
  • Ustanova
    Translation: Public Institution
    Notes: Required to submit annual financial statements in accordance with national regulations.
  • Podružnica stranog društva
    Translation: Branch of a Foreign Company
    Notes: Must submit financial statements, adhering to both local and parent company’s reporting obligations.

Legal Forms Not Obliged to Publish Financial Statements

  • Samostalni poduzetnik
    Translation: Sole Proprietorship
    Notes: Exempt from publishing financial statements but must maintain financial records for tax purposes.
  • Udruženje
    Translation: Association
    Notes: Exempt from publishing financial statements unless they engage in significant economic activities.
  • Poljoprivredno domaćinstvo
    Translation: Agricultural Household
    Notes: Not required to publish financial statements but must maintain financial records.
  • Fizičko lice koje obavlja djelatnost
    Translation: Natural Person Engaged in Business Activities
    Notes: Exempt from publishing financial statements but must keep records for tax purposes.
  • Jednostavno društvo sa ograničenom odgovornošću (j.d.o.o.)
    Translation: Simple Limited Liability Company
    Notes: Similar to d.o.o., required to submit financial statements, but with simplified procedures.

Notes:

  • Non-Profit Organizations (Udruge, Zaklade): These entities may have reporting obligations but are generally required to submit only simplified financial reports unless they engage in economic activities above certain thresholds.

3. Companies Requiring Audited Financial Statements

In Bosnia and Herzegovina, companies must have their financial statements audited if they meet specific conditions outlined in the “Zakon o računovodstvu i reviziji” (Accounting and Auditing Act) (https://www.paragraf.ba/propisi/fbih/zakon-o-racunovodstvu-i-reviziji.html). The criteria generally involve meeting thresholds in turnover, total assets, or number of employees.

Legal Form (Original / English) Audit Rule Criteria (must meet at least two of the three)
Društvo sa ograničenom odgovornošću (d.o.o.) Mandatory audit if thresholds are exceeded - Turnover (more than) BAM 4 million
- Total assets (more than) BAM 2 million
- More than 50 employees
Dioničko društvo (d.d.) Audit always required No minimum thresholds; audit is always mandatory
Javno preduzeće (j.p.) Mandatory audit Always subject to audits due to public nature
Komanditno društvo (k.d.) Audit required if thresholds are exceeded - Turnover > BAM 4m
- Assets > BAM 2m
- More than 50 employees

4. Local Stock Exchange and Financial Statements Publication

5. Deadline for Submitting Financial Statements

The deadline to submit financial statements is generally within six months after the end of the fiscal year. For listed companies, stricter deadlines may apply as per the stock exchange regulations.

6. Companies Submitting Partial Financial Statements

Smaller entities with lower turnover or total assets (below BAM 2 million) may submit simplified financial statements.

7. Consequences for Late Submission of Financial Statements

Failure to submit financial statements on time can result in fines (BAM 1,000 – 10,000) and possible company strike-off.

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

Foreign-owned branches must submit financial statements according to both local and parent company regulations. Newly established companies have until the end of their first fiscal year to submit their initial financial statements.

Sources

Source Link
Agencija za posredničke, informatičke i financijske usluge (APIF) https://www.apif.net/
Financijska-informativna agencija (FIA) https://www.fia.ba/
Zakon o računovodstvu i reviziji (Accounting and Auditing Act) https://www.paragraf.ba/propisi/fbih/zakon-o-racunovodstvu-i-reviziji.html
Sarajevo Stock Exchange (SASE) https://www.sase.ba/
Banja Luka Stock Exchange (BLSE) https://www.blberza.com/
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