Iran
Financial Reporting Obligations for Companies in Iran
1. Registry for Financial Statement Submission
In Iran, companies must submit their financial statements to the Iranian Official Gazette (روزنامه رسمی جمهوری اسلامی ایران) (https://www.rrk.ir), which is managed by the Ministry of Justice (https://www.justice.ir). The financial statements are also submitted to the Securities and Exchange Organization of Iran (سازمان بورس و اوراق بهادار ایران) (https://www.seo.ir) for listed companies.
Public Access to Financial Statements:
In Iran, financial statements of listed companies are publicly available through the Tehran Stock Exchange (TSE) (https://www.tse.ir).
However, financial reports of private companies (LLCs and other non-listed entities) are not publicly accessible. Such reports are filed with regulators but are not disclosed to the general public.
2. Legal Forms Required to Publish Financial Statements
The following legal forms in Iran are required to submit and publish their financial statements:
- شرکت سهامی عام (Sherkat Sahami Am) – Public Joint Stock Company
Obligations: Must submit financial statements and undergo mandatory audits, especially for listed companies. - شرکت سهامی خاص (Sherkat Sahami Khas) – Private Joint Stock Company
Obligations: Financial statement submission is mandatory, and audits are required if the company exceeds certain thresholds. - شرکت با مسئولیت محدود (Sherkat Ba Masouliat Mahdoud) – Limited Liability Company
Obligations: Financial statement submission is mandatory, with audit requirements dependent on size criteria. - شرکت تضامنی (Sherkat Tazameni) – General Partnership
Obligations: Submission of financial statements is required, and audits are conditional based on size and revenue. - شرکت نسبی (Sherkat Nasbi) – Limited Partnership
Obligations: Financial statement submission is required, with audits necessary if size thresholds are met. - شرکت مختلط سهامی (Sherkat Mokhtalet Sahami) – Mixed Joint Stock Partnership
Obligations: Required to submit financial statements and undergo audits if thresholds for revenue or assets are exceeded. - شرکت مختلط غیر سهامی (Sherkat Mokhtalet Gheir Sahami) – Mixed Non-Joint Stock Partnership
Obligations: Submission of financial statements is required, with audit obligations based on size. - شرکت تعاونی (Sherkat Ta'avoni) – Cooperative Company
Obligations: Required to submit financial statements and undergo audits depending on size and activity. - شرکت دولتی (Sherkat Dolati) – State-owned Enterprise
Obligations: Subject to rigorous financial reporting and auditing requirements due to state involvement.
Exclusions (Not Obliged to Publish Financial Statements):
- فردی (Fardi) – Sole Proprietorship
Note: Sole proprietorships and small, non-incorporated businesses are exempt from mandatory financial reporting and audit obligations unless they reach specific asset or revenue criteria.
3. Audit Requirements for Financial Statements
The table below outlines the legal forms of companies in Iran that are subject to audit requirements, along with the applicable criteria for mandatory audits:
4. Stock Exchange Listing and Reporting Requirements
For companies listed on Iran’s stock exchange, they must publish their financial statements on the Tehran Stock Exchange (بورس اوراق بهادار تهران) (https://www.tse.ir).
5. Deadlines for Submission of Financial Statements
- All companies: within three months of the end of the fiscal year.
- Public companies listed on the Tehran Stock Exchange: typically 90 days after the fiscal year-end.
6. Partial Financial Statements Submission
Certain smaller companies, such as limited liability companies below the audit threshold, may submit condensed or partial financial statements.
7. Consequences of Late Submission
- Fines ranging from IRR 10 million to IRR 50 million.
- Disqualification from specific business activities.
- In extreme cases, companies may be struck off the register if they consistently fail to comply with the submission requirements.
8. Foreign-owned Branches and Newly Established Companies
Foreign-owned branches operating in Iran must follow the same financial reporting requirements as domestic companies. Newly established companies must submit their first financial statements within three months after the end of their first fiscal year.
Sources
| Source | Link |
| Iranian Official Gazette (روزنامه رسمی جمهوری اسلامی ایران) | https://www.rrk.ir |
| Securities and Exchange Organization of Iran | https://www.seo.ir |
| Ministry of Justice (Iran) | https://www.justice.ir |
| Tehran Stock Exchange (TSE) | https://www.tse.ir |
| Start Companies Search | Order Credit Report |
Keywords
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