{"id":6641,"date":"2026-05-26T10:00:43","date_gmt":"2026-05-26T08:00:43","guid":{"rendered":"https:\/\/mgi-bpo.hu\/?post_type=szakmai-hirek&p=6641"},"modified":"2026-05-22T11:37:54","modified_gmt":"2026-05-22T09:37:54","slug":"the-annual-financial-statements-deadline-is-approaching-what-should-managing-directors-pay-attention-to","status":"publish","type":"szakmai-hirek","link":"https:\/\/mgi-bpo.hu\/en\/news\/the-annual-financial-statements-deadline-is-approaching-what-should-managing-directors-pay-attention-to\/","title":{"rendered":"The Annual Financial Statements Deadline Is Approaching \u2013 What Should Managing Directors Pay Attention To?"},"content":{"rendered":"
\n

The Deadline for Annual Financial Statements<\/h3>\n

If your company does not apply a different financial year, then May 31 is an important date every year: this is the deadline for preparing, approving, and publishing the annual financial statements. At first glance, this may seem like a task for accountants only, but in reality, managing directors and owners also carry several important responsibilities in connection with it.<\/p>\n

In recent years, the practice of the authorities has noticeably changed: both the Hungarian Tax Authority (NAV) and the Court of Registration react much faster if annual financial statements are not published, and the legal consequences have become significantly more severe.<\/p>\n

Reviewing the Annual Financial Statements as a Managing Director<\/h3>\n

Once the annual financial statements are completed, the most important task for the managing director is to review and understand them. There is no need to be an accounting expert, but it is definitely advisable to look at the key figures: whether the revenue, costs, and profit figures are realistic and consistent with how the business year is evaluated internally. If any discrepancies are noticed, it is highly recommended to discuss them with the accountant before submission.<\/p>\n

Decision-Making Following the Annual Financial Statements<\/h3>\n

It is also the responsibility of the managing director (and the owners) to make the necessary decisions. This includes, for example, determining dividend payments, which requires a formal resolution and is also published as part of the annual financial statements.<\/p>\n

In addition, it is advisable to review the notes to the financial statements, as they contain explanations and supplementary information that provide context behind the figures.<\/p>\n

Publication of the Annual Financial Statements<\/h3>\n

The Auditor\u2019s Report<\/span><\/h3>\n

It is important to highlight that if the company is subject to a statutory audit, the annual financial statements are only valid together with the auditor\u2019s report. The auditor\u2019s report must also be attached during publication; otherwise, the financial statements are not considered properly submitted.<\/p>\n

Documents Required for Publication<\/span><\/h3>\n

Furthermore, it is not sufficient to upload only the balance sheet. All required documents must be submitted together. These typically include:<\/p>\n