Contabilidade e regras contábeis na Islândia
Accounting Rules
- Tax Year
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The fiscal year begins on 1 January and ends on 31 December of the same year.
- Accounting Standards
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As a European Economic Area (EEA) member, Iceland applies the European IAS/IFRS regulations.
- Accounting Regulation Bodies
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Icelandic Ministry of Finance.
- Accounting Reports
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The annual report must contain a profit and loss account, a balance sheet and an annual report.
- Publication Requirements
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The Law refers to the notion of "good accounting method" as regards the methods of companies for the elaboration of financial statements.
All capital companies have to send a copy of their annual report to the legal authorities of the country. This annual report must contain a profit and loss account, a balance sheet and an annual report.
The report must be in Icelandic, Danish or English. However, companies registered in Iceland, whose income mainly comes from foreign sources, can present a report in a foreign currency and language.
- Professional Accountancy Bodies
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The Institute of State Authorized Public Accountants in Iceland
- Certification and Auditing
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Every limited company in Iceland is required to elect an auditor or inspector and have its annual accounts audited. For public limited companies, a state-authorized public accountant must perform a full-scale audit. Publicly listed companies must elect two auditors, one of whom must be a state-authorized public accountant.
You can contact an external auditor: Ernst & Young, Deloitte, KPMG and PricewaterhouseCoopers.
- Accounting News
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Últimas atualizações em April 2024