Few Listed Companies Meet Deadline for Publishing Semi-Annual Financial Statements
At the end of August, the deadline for listed companies to publish their semi-annual financial statements, only a handful were able to do so. While some may still manage to publish them before the deadline, the number remains low compared to the total number of companies listed on the Tunis Stock Exchange.
The reasons are simple: it's challenging to establish these statements during a period that coincides with summer vacations. This affects the entire chain, from accountants within companies to auditors. There are always people missing, and it's understandable. These two months of the year are characterized by a single-shift system practiced by most companies, and employees also have the right to take a break with their families.
The solution lies in investing in efficient accounting and information systems that enable the rapid establishment of reliable accounts. Such systems exist in Tunisia, and some companies have successfully met the deadlines. It's a matter of investment.
Meeting deadlines and having a predefined publication calendar is a condition for market development. How can foreign investors be expected to come when there is no clear flow of financial information? On other markets, there are quarterly conferences with analysts, followed by published transcripts, which even allow foreign managers to intervene. This is not the case here, which remains one of the biggest weaknesses of our market. We can significantly improve the flow of foreign direct investment (FDI) if this issue is addressed properly.
