Two parties fail to submit financial reports by deadline in Iceland’s parliament

Two of the eight political parties in Iceland’s parliament have not submitted their annual financial reports by the deadline, which expired at midnight. Six of the eight parties have complied with the requirement.

The submission of annual financial reports is mandated by law, allowing for public disclosure about how political parties are financed. Recently, the Pirate Party, the Progressive Party, the People’s Party, and the Center Party submitted their reports, while the Left-Green Movement submitted theirs last week. The chairman of the Independence Party confirmed that his party also submitted its report, despite it not being listed yet. The Social Democratic Alliance and the Reform Party are still overdue on their submissions.

As of now, 15 political organizations have submitted their annual reports, which can include parties operating at both national and local levels. Recently, organizations submitting reports include the Voice of Young People in Grindavík and local parties from Dalvíkurbyggð and Ísafjörður.

Earlier last month, the National Audit Office reminded parties of the deadline for submitting their reports, emphasizing their legal obligation to provide this information to qualify for government or municipal funding. The warning comes after the office noted that about a third of parties were late in reporting their 2022 figures, despite nearly a year having passed since the deadline.

The office highlighted the significance of this compliance, noting that many of those who failed to submit reports had received funds from municipalities, which is contingent on having submitted their financial statements to the auditors.

Correction: The Independence Party has now submitted its report, doing so yesterday.