Comptabilitat a Israel

Accounting Rules

Tax Year

The tax year is the same as the calendar year unless otherwise agreed.

Accounting Standards

Domestic companies whose securities trade in a public market only in Israel are required to use IFRS Standards except for banking institutions (which follow Israeli regulatory accounting standards that are close to US GAAP). Companies whose securities trade both in Israel and abroad may choose to file according to IFRS Standards, IFRS Standards as adopted by the European Union, or US GAAP

Accounting Regulation Bodies

IASB

Accounting Reports

Financial accounts must include a balance sheet, an income statement, a cash flow account and an owner's equity account.

Publication Requirements

Accounts have to be published annually. A private company must present an annual financial statement inspected and confirmed by a certified auditor to the Registrar of Companies. Material corporate developments, such as the appointment or replacement of directors, must be reported to the Registrar. A public company is subject to the Israel securities Authority and must present its annual financial statement to the authority. Companies quoted on the Tel Aviv Stock Exchange must publish detailed quarterly income statements and balance sheets, including purchasing power effects on profit-and-loss figures. They must issue statements disclosing any material developments in their affairs as and when these occur.

Professional Accountancy Bodies

ICPA , Institute of Certified Public Accountants in Israel
IFAC , International Federation of Accountants

Certification and Auditing

Accounts are audited by an external auditor. KPMG, Pricewaterhouse Coopers, Deloitte, Ernst and Young

Accounting News