Iraq Mandates Certified Accountants for All Private Companies
The Registrar of Companies in Iraq has announced new mandatory requirements compelling all limited and private companies to appoint a certified accountant registered with the Association of Accountants and Auditors, effective for fiscal year 2026.
KEY IMPACT
Companies must appoint a certified accountant to prepare annual financial statements. Accounts prepared by unregistered accountants will be rejected by the Companies Registry Directorate.
WHAT COMPANIES MUST DO
- Accountant appointment must be linked to the company’s founding document or an official appointment minutes.
- Any change of accountant requires prior approval from the Association of Accountants and Auditors.
- The appointment must align with Retirement and Social Security Law No. 18 of 2023.
- Non-compliant accounts will not be processed by the registry.
HOW ETIHAD LAW FIRM ASSISTS
Etihad Law Firm guides businesses through the accountant appointment process, drafts compliant appointment minutes, and liaises with the Association of Accountants and Auditors on behalf of clients.