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eservices

Registration and Filling

Registration and Filling Financial Statements

Accounting and Auditing Board of Ethiopia has been discharging its responsibility specified in proclamation 847/2014 regarding with reporting entities setting criteria to distinguish reporting entities as either public interest entities or small and medium enterprises and register them. Additionally, article 8 sub article 3 of proclamation 847/2014 states that financial reports to be submitted to the competent public body in accordance with other laws shall be the original copy of the financial report submitted to the Board pursuant to sub-article (1) of this Article. 

Registration for the Reporting Entities

  1. Come up with recent financial statement.
  2. A copy of the certificate of the organization that audited or prepared the account.
  3. Copy of business registration certificate.
  4. Copy of business license certificate.
  5. Memorandum of Association (For private limited company only).
  6. Memorandum of Articles (For private limited company only).
  7. For rows from number 1-6, make the company’s seal on the back.
  8. Fill out the form and have it signed by your manager. Once the form is completed and signed, please seal the front of the form. Click here to get the form.
  9. If by proxy, power of attorney and ID are required to be submitted.

Filing Financial Statements

  1. Come up with max of four original copies of audited financial statements approved by the management. (Each page must be sealed by the Company and Audit Firm). 
  2. A copy of the auditor’s certificate of license issued by the Board.
  3. A copy of the auditor’s trade license. 
  4. Reporting entities must come up with a registration card.

 

  1. Fill out the form and have it signed by your manager. Once the form is completed and signed, please seal the front of the form. Click here to get the form.
  2. Pay the service fee based on the regulation No 481/2021.

Obligation of Reporting Entities

  1. Any reporting entity shall pay and submit to the Board its annual audited financial statements prepared in accordance with:-
  2. Public Interest Entities m accordance with the international Financial Reporting Standards;
  3. Small and Medium Enterprises m accordance with the International Financial Reporting Standards applicable for Small and Medium Enterprises·
  4. organization of civil societies and charitable organization in accordance with the International Public Sector Accounting Standards.
  5. The reporting entities specified under article above shall submit their audited financial statement within four months from the end of their fiscal year.
  6. A reporting entity which failed to submit the report within the time specified under sub article 4 of this Article shall be liable to pay a penalty of Birr 200 (two hundred) for each day of delay· and the Director of the reporting entity shall pay a penalty of Birr 100 (one hundred) for each day of delay. However, the penalty shall only continue to apply for three months after which they will be criminally liable in accordance with Article 44 of the proclamation (847/2014 )
  7. If a reporting entity established after the issuance of this Directive, fails to register within three months from the date of commencement of the business shall be liable to pay a penalty of Birr 200 (two hundred) for each day of delay and the Director of the reporting entity shall pay a penalty of Birr 100 (one hundred) for each day of delay. However, the penalty shall only continue to apply for three months after which they will be criminally liable in accordance with Article 44 of the Proclamation.
  8. If a reporting entity not registered to the Board within three months from the date of issuance of the Directive 804/2021 , shall be liable to pay a penalty of Birr 200 (two hundred) for each day of delay and the Director of the Reporting Entity shall pay a penalty of Birr 100 (one hundred) for each day of delay. However, the penalty shall only continue to apply for three months after which they will be criminally liable in accordance with Article 44 of the Proclamation.
  9. if any reporting entity intends to prepare its annual financial statement by using external professional shall conclude a legal contract with the accounting or audit firm that registered by the Board. If it fails to do so, the financial statement or the audit report shall not be acceptable.

For further information