Morocco
Financial Reporting Obligations for Companies in Morocco
1. Registry for Submitting Financial Statements
In Morocco, companies are required to submit their financial statements (annual reports) to the Registre de Commerce (Commercial Register) (https://www.ompic.ma/en/registre-de-commerce). Submission is made through the Tribunal de Commerce (Commercial Court) (https://www.justice.gov.ma/) where the company is registered, or electronically via the Portail des Téléservices du Registre de Commerce (https://www.directinfo.ma/).
2. Legal Forms Obliged to Publish Financial Statements
Legal forms in Morocco that are obliged to submit and publish their financial statements (annual reports) include:
- Société à Responsabilité Limitée (SARL) (Translation: Limited Liability Company) — must submit annual financial statements; audit if thresholds are met.
- Société Anonyme (SA) (Translation: Joint Stock Company) — must submit annual financial statements; audit always required.
- Société en Nom Collectif (SNC) (Translation: General Partnership) — must submit annual financial statements; audit if thresholds are exceeded.
- Société en Commandite Simple (SCS) (Translation: Limited Partnership) — must submit annual financial statements; audit if thresholds are exceeded.
- Société en Commandite par Actions (SCA) (Translation: Partnership Limited by Shares) — must submit annual financial statements; audit always required.
- Société Coopérative (Coop) (Translation: Cooperative Society) — must submit annual financial statements; audit if thresholds are exceeded.
- Groupement d’Intérêt Économique (GIE) (Translation: Economic Interest Group) — must submit annual financial statements; audit if thresholds are exceeded.
- Succursale de Société Étrangère (Translation: Branch of a Foreign Company) — must submit financial statements per Moroccan law; audit may depend on local thresholds and parent rules.
Legal Forms Not Obliged to Publish Financial Statements
- Entreprise Individuelle (Translation: Sole Proprietorship) — not required to publish; must keep records for tax.
- Commerçant Individuel (Translation: Individual Merchant) — not required to publish; must keep records for tax compliance.
- Exploitant Agricole (Translation: Agricultural Enterprise) — not required to publish; must keep records for tax.
- Auto-Entrepreneur (Translation: Self-Employed Entrepreneur) — not required to submit annual financial statements; must keep records for taxation.
Note: Non-profit organizations have specific reporting requirements and typically submit simplified financial reports unless they exceed economic activity thresholds.
3. Companies Requiring Audited Financial Statements
In Morocco, audit obligations are governed by the Loi sur les Commissaires aux Comptes (Auditors Activities Act) (https://www.oec.ma/). The obligation generally depends on turnover, total assets, and number of employees.
| Legal Form | Audit Rule | Criteria |
|---|---|---|
| Société à Responsabilité Limitée (SARL) | Mandatory audit if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Société Anonyme (SA) | Audit always required | No minimum thresholds; mandatory for SA |
| Société en Nom Collectif (SNC) | Audit required if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Société en Commandite Simple (SCS) | Audit required if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Société en Commandite par Actions (SCA) | Audit always required | No minimum thresholds; mandatory for SCA |
| Société Coopérative (Coop) | Audit required if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Groupement d’Intérêt Économique (GIE) | Audit required if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Association | Audit required if thresholds are exceeded | Turnover > MAD 50 million; Total assets > MAD 30 million; > 100 employees |
| Succursale de Société Étrangère | Depends on parent obligations and local thresholds | May follow parent rules; local thresholds can apply |
| Auto-Entrepreneur | Not required | Generally exempt regardless of size |
Key criteria for audit obligation:
- Turnover exceeding MAD 50 million
- Total assets exceeding MAD 30 million
- More than 100 employees
Special considerations:
- Listed companies — Bourse de Casablanca (Casablanca Stock Exchange) (https://www.casablanca-bourse.com/) — audit always required per exchange rules.
- Medium and large companies — audit required if at least two of the three key criteria are met.
- Small companies — generally exempt if fewer than two criteria are met (voluntary audits possible).
4. Local Stock Exchange and Financial Statements Publication
Companies listed on the Moroccan stock exchange, Bourse de Casablanca (https://www.casablanca-bourse.com/), must publish financial statements in accordance with exchange regulations.
5. Deadline for Submitting Financial Statements
The deadline to submit financial statements to the Commercial Register is typically within six months after the end of the fiscal year. Listed companies may have stricter deadlines under stock exchange rules.
6. Companies Submitting Partial Financial Statements
Certain smaller entities with lower turnover or total assets (below MAD 30 million) may submit simplified financial statements.
7. Consequences for Late Submission of Financial Statements
Failure to submit financial statements on time may result in penalties (including fines) and potential strike-off from the Commercial Register.
8. Requirements for Foreign-Owned Branches and Newly Established Companies
Foreign-owned branches must submit financial statements in line with Moroccan law and, where applicable, parent company regulations. Newly established companies submit their initial financial statements by the end of their first fiscal year; audit depends on legal form and thresholds.
Sources
| Source | Link |
|---|---|
| Registre de Commerce (Commercial Register) | https://www.ompic.ma/en/registre-de-commerce |
| Tribunal de Commerce (Commercial Court) | https://www.justice.gov.ma/ |
| Portail des Téléservices du Registre de Commerce | https://www.directinfo.ma/ |
| Loi sur les Commissaires aux Comptes (Auditors Activities Act) | https://www.oec.ma/ |
| Bourse de Casablanca (Casablanca Stock Exchange) | https://www.casablanca-bourse.com/ |
| Start Companies Search | Order Credit Report |
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