Financial statements must be approved by 30 June
Only until the end of June is there time to approve the financial statements in companies. It is also important to remember that approval alone does not end the obligations relating to the accounts.
According to the Accounting Act, an entity’s annual financial statements are subject to approval by the approving authority no later than six months after the balance sheet date. This means that where the company’s financial year is the same as the calendar year, the last day to approve the accounts will be 30 June. The method of approval itself will depend on the legal form of the company.
Once the financial statements have been approved, they still need to be submitted to the KRS. Entrepreneurs have until 15 July to do so.