Photo: File Folder with Documents (23909830671) by Tony Webster from Portland, Oregon. Photo and cropped/resized versions: CC BY-SA 2.0.
Sooner or later, someone asks a company in Qatar for its “audited accounts”. It may be a government tender committee, a buyer in the energy sector, a bank renewing a facility, or a ministry. The request often arrives with a deadline and little detail.
Some of these requests rest on a written rule, with an article number behind them. Others come from the requester’s own policy, and only the requester can say what it wants. Knowing which is which saves time, and avoids sending the wrong report.
This guide sets out who asks for audited statements in Qatar, the rule behind each request where we found one and what to check before you send anything, with the official source for each point.
- Tender rules
- Law No. 24 of 2015
- Classification certificate
- Valid 2 years
- ICV statements
- Latest audited, standalone
- Law checked
- 16 October 2026
The short answer
In short
- Every limited liability company (LLC) and joint stock company appoints an auditor each year (Commercial Companies Law Articles 141 and 260), so most requests can be met with the yearly audited statements. See is an audit mandatory in Qatar.
- For government tenders, the Executive Regulations of the tender law refer to financial capacity shown “through an audited balance sheet” for points-based evaluation, prequalification and contractor classification (Articles 7, 61 and 100).
- Energy Sector tenders need an In-Country Value (ICV) certificate, and ICV figures come from the latest audited standalone financial statements (Tawteen ICV Handbook 2.1).
- For bank facilities and residence applications we found no public rule. The facility letter or the authority’s own checklist decides, so get the request in writing. “Audited” means signed by an auditor on the Ministry of Commerce and Industry (MOCI) register.
Who asks for audited statements, and under which rule
The table sets out the main requesters and the rule behind each.
| Requester | What they usually ask for | Written rule found | Source |
|---|---|---|---|
| Government tender committee | Financial capacity in points-based evaluation and in prequalification for a limited tender | Yes: an audited balance sheet is named | Tender Regulations Arts. 7(5), 61(5) |
| Contractor and supplier classification | Financial position through statements or an audited balance sheet, with other documents | Yes: certificate valid two years | Tender Regulations Arts. 100, 105 |
| Energy Sector buyers, through ICV | An ICV certificate based on the latest audited standalone statements | Yes | Tawteen ICV Handbook 2.1 |
| General Tax Authority (GTA) | Audited final accounts with the tax return, where the tests are met | Yes | Income Tax Regulations Art. 33 |
| Ministry of Commerce and Industry | LLC accounts and the auditor’s report after the year end | Yes | Commercial Companies Law Art. 251 |
| Bank | Statements for a facility request, renewal or covenant test | No public rule found; the facility letter decides | Bank’s own credit policy |
| Residence or investor application | Depends on the route | No official requirement found | Check the current checklist |
| Landlord, funder or partner | Statements, or a report on one item, under the contract | Contract terms only | The contract |
The GTA rule applies where the company’s capital exceeds QAR 200,000, its total income exceeds QAR 500,000, or its main office is outside Qatar (Executive Regulations Article 33). See how to file a corporate income tax return. LLC managers prepare the accounts within two months of the year end and, within one month after that, send them with the auditor’s report to the Ministry and each partner (Commercial Companies Law Article 251).
Commercial registration renewal is applied for in the 30 days before the registration expires (Commercial Register Law Article 5). Whether MOCI asks for audited statements at renewal is a point to check with the Ministry. Dates for 2027 are in the Qatar compliance calendar 2027.
Government tenders and classification
Law No. 24 of 2015 on the Regulation of Tenders and Auctions applies to ministries, other government bodies, public authorities and public institutions, with listed exceptions such as the armed forces and police for classified contracts (issuing Article 2). Its Executive Regulations were issued by Council of Ministers Decision No. 16 of 2019 and amended by Decision No. 11 of 2022 (issuing Article 3).
The law limits a restricted tender to listed or prequalified suppliers that have technical and financial competence and a good reputation (Article 5). Bids are evaluated technically and financially under the rules in the Regulations (Article 15), and three articles of the Regulations name an audited balance sheet.
Where a tender is scored on points, the elements include the financial capacity of the bidder through an audited balance sheet (Article 7(5)). In a limited tender, the documents for prequalification must likewise include financial capacity through an audited balance sheet (Article 61(5)). The longest list is for classification. A contractor applying for classification or reclassification submits a commercial register extract, the company’s financial position through statements or a balance sheet audited by an auditor, staff details, a list of equipment with the fixed equipment list approved by an auditor, and past contracts with completion certificates (Article 100).
Government bodies deal with contractors, suppliers and service providers classified by financial capacity and experience (Article 96). Natural persons are exempt from classification, and foreign companies may use their home-country certificate attested by the Qatar embassy. The same rules apply to suppliers and service providers, adapted to their activity (Article 106).
Applications are made electronically on the unified website for State procurement (Article 101). A classification certificate is valid for two years and is cancelled if it was based on incorrect financial, technical or administrative information (Article 105).
The technical bid must state the commercial registration number and its expiry, the classification certificate number if there is one, and include a tax clearance certificate (Article 28(1)). A separate Council of Ministers decision, No. 23 of 2019, deals with Qatar Financial Centre and free zone companies taking part in tenders. Semi-government buyers have their own supplier rules: read the tender documents for the year and form required. For contractors, see our construction and contracting page.
ICV certificates and Energy Sector tenders
An ICV certificate is mandatory to bid in Energy Sector tenders. A supplier with no ICV score on the closing date is disqualified in the commercial evaluation unless it is exempt (icv.qa FAQ).
The certificate is tied to audited statements in three ways. ICV figures come from the latest audited standalone financial statements, which may be no more than two calendar years old when the certificate is issued, and consolidated statements are not accepted. Once newer audited statements are issued, the older ones can no longer be used. Companies under two years old are exempt from mandatory ICV, and they may certify with signed management accounts covering 9 to 15 months, or with audited statements covering up to 18 months.
The practical point is timing. Plan the yearly audit so that new audited statements are signed before the current certificate expires. The certification process and the certifiers are covered in ICV certificate in Qatar. Our ICV certification page describes our preparation support.
Bank facilities: what to expect when there is no public rule
We found no public Qatar Central Bank rule that requires a borrower to give audited statements for a facility. In practice, each bank sets its own conditions in its credit policy and states them in the facility letter. That letter, not a general rule, tells you what to provide and when.
Ask the bank to confirm in writing:
- Which financial year it needs, and how old the statements may be.
- Whether it needs audited statements, or will accept reviewed statements or management accounts.
- Whether it needs standalone or consolidated statements.
- Whether it has any criteria for the auditor.
- Which covenants are tested on audited figures, and the deadline after the year end.
Some advertisements mention “bank approved auditors”. Law No. 8 of 2020 does not grade audit firms or create bank lists. If a bank keeps its own list, ask the bank for it. Any auditor you appoint must be entered in the MOCI register (Articles 2 and 3). See how to choose an auditor in Qatar.
When a bank wants one figure or item checked, such as a covenant ratio, a full audit may not be the right report. A special purpose report covers one item in the requester’s format, and agreed-upon procedures under ISRS 4400 (Revised) give findings rather than an opinion. See our special purpose audit page.
Residence and investor applications
We did not find an official Ministry of Interior or Hukoomi page that asks for audited financial statements for family residence. For business owners and investors, check the current checklist on Hukoomi or with Invest Qatar for your route, and ask whether company accounts are needed and in what form. If they are, ask which year, whether they must be audited, and whether an attested copy is needed.
Audited, reviewed or management accounts: which one will do
Four kinds of financial report are often confused. An audit under the International Standards on Auditing gives an opinion on the financial statements, and it gives the highest level of assurance of the four. A review under ISRE 2400 (Revised) gives limited assurance, but it is not an audit. See our review of financial statements page.
Agreed-upon procedures are different again. An engagement under ISRS 4400 (Revised), for engagements agreed on or after 1 January 2022, reports findings on procedures the parties agreed and gives no opinion. Management accounts, finally, are prepared by the company itself, so they carry no assurance from anyone outside it.
If the request says “audited”, only an audit by a registered auditor meets it. Whether a bank or tender committee will accept a review instead is for the requester to say, in writing. New companies may use signed management accounts for ICV certification; for other requests, ask. The full comparison is in internal audit, external audit and review.
Keep preparation and audit separate. An auditor may not audit a company to which it provides consultancy work (Law No. 8 of 2020, Article 27), and the person who prepared the final accounts cannot audit them (Executive Regulations Article 34(4)). The firm that keeps your books cannot also sign your audited statements.
A checklist before you send your statements
Checklist
- Get the request in writing, with the report type, the year and the deadline.
- Check the year end and any age limit on the statements.
- Confirm whether standalone or consolidated statements are needed.
- Check that the report is signed by an auditor on the MOCI register, with the registration number shown.
- Ask whether an Arabic or English version, or both, is needed.
- Ask whether an attested copy is needed.
- For tenders, check that the tax card, tax clearance certificate, commercial registration and classification certificate are valid.
- Keep a signed PDF set ready after each audit, so you can respond quickly.
Most delays come from the audit itself running late. To get the yearly audit done on time, see the audit preparation checklist.
What to do next
List who has asked for your statements, the rule or letter behind each request, and the dates. Then plan the yearly audit around the earliest deadline. Our external audit service covers the yearly statements most requests rely on, and our special purpose audit service covers a single item in the requester’s format. To discuss your needs, request a proposal.
Frequently asked questions
Who can provide audit services in Qatar?
Only an auditor entered in the Ministry of Commerce and Industry’s register may carry out the auditing of accounts in Qatar (Law No. 8 of 2020, Article 3). Ask for the registration before you appoint a firm for audit services in Qatar, and check any extra register your bank or regulator requires.
Do I need audited financial statements for a government tender in Qatar?
Often, if the tender is scored on points or needs prequalification or classification. The Executive Regulations of Law No. 24 of 2015 refer to financial capacity “through an audited balance sheet” (Articles 7(5), 61(5) and 100). Read the tender documents for the exact year and form.
What documents are needed for contractor classification?
A commercial register extract, the financial position through statements or an audited balance sheet, staff details, an equipment list approved by an auditor, and past contracts with completion certificates (Tender Regulations Article 100). Applications are made online, and the certificate is valid for two years (Articles 101 and 105).
Do banks in Qatar require audited financial statements for a loan?
We found no public Qatar Central Bank rule that requires them. Each bank sets its own conditions in its credit policy and facility letter. Ask the bank in writing which year it needs and which type of report it will accept.
What is a bank approved auditor?
Law No. 8 of 2020 does not grade auditors or create bank lists. If a bank keeps its own list, ask the bank for it. Any auditor you appoint must be entered in the MOCI register of practising auditors (Articles 2 and 3).
Which financial statements are used for an ICV certificate?
The latest audited standalone financial statements, no more than two calendar years old when the certificate is issued. Consolidated statements are not accepted, and older statements cannot be used once newer audited ones exist (Tawteen ICV Handbook 2.1).
Are audited statements needed for a family visa or to renew a commercial registration?
We did not find a published requirement on the official pages we checked. Check the current checklist with the Ministry of Interior for residence, and with the Ministry of Commerce and Industry for commercial registration renewal, before you prepare anything.
Can a review report replace audited statements?
Only if the requester accepts it in writing. A review under ISRE 2400 (Revised) gives limited assurance and is not an audit. A request for “audited” statements needs an audit by an auditor entered in the MOCI register (Law No. 8 of 2020, Article 3).
Sources
Laws and regulations
- Law No. 24 of 2015 on the Regulation of Tenders and Auctions (Al Meezan)
- Law No. 11 of 2015, Commercial Companies Law (Al Meezan)
- Law No. 8 of 2020 on the Auditing Profession (Al Meezan)
- Law No. 25 of 2005 on the Commercial Register (Al Meezan)
- Income Tax Law and Executive Regulations, 2024 edition (General Tax Authority)
ICV and professional standards
This article is general information, not legal or audit advice for your company. The laws and regulations cited were checked on 16 October 2026; English descriptions of Arabic legal texts are our own. Requesters set their own forms: always read the current request. A firm that prepares your accounts cannot also audit them.