FAQs - IFSAH

FAQ

Find answers to common questions about:

Registration
FS & Car Domain
Disclosure Domain
General Assembly Domain.

Are Companies & Funds Already Registered in the Portal or Do They Need to Register?

• The CMA has already registered all listed companies, licensed persons, and mutual funds that have been listed or licensed before the tenth of February 2019. The registration was completed based on the data available to the CMA, thus, there is no need for registered entities to register again on the iFSAH portal. It is important to mention here that once senior staff members in registered entities open super user accounts they can update the information and details of their entities through their accounts’ dashboard.
• For all newly listed or licensed by CMA after the tenth of February 2019, they are required to register on the portal by completing the “Company/Fund Registration” form available on the iFSAH portal home page which can be accessed via the following link https://ifsah.cma.gov.kw.
• An instructional video on how to register companies and Mutual Funds is available on the following link: https://www.cma.gov.kw/en/web/ifsah/videos1

What are the reporting domains that will be available in CMA’s iFSAH Portal?

During this Pilot Phase of the release, the following reporting domains will be available:

• Financial Reporting Domain
• Anti-Money Laundering Reporting Domain

Three more reporting domains will be introduced gradually at a later stage during this year:

• General Assembly Reporting Domain
• Corporate Governance Reporting Domain
• Disclosures Reporting Domain

If the entity is already registered on the portal, who are the qualified users to access the portal?

There are two types of user accounts made available on the iFSAH portal:

- Company Super User (CSU):

• Def:
• More than one CSU account can be opened for an entity (For example: financial manager, compliance manager, and CEO, all can register as CSUs).
• There can be multiple CSU’s for a single reporting domain (in cases where the individuals registering satisfy the qualifying criteria).
• The registration request of the CSU will be subject to the review and approval of CMA.
• The reporting domains can be assigned to the CSUs on and individual basis (For example: the financial manager can be assigned to the financial reporting domain, the compliance manager can be assigned to the Anti-Money Laundering domain, and the CEO can be assigned to both domains)
• The CSU accounts are the only user accounts authorized to submit filings to the CMA through the portal.
• CSU account holders can edit the company’s details.
• CSU account holders can add unlimited number of Company Users (CUs) to assist him in completing the filings’ requirements.
• The registration of the CSU can be completed through the following link:

https://ifsah.cma.gov.kw

• Once the CSU registration request is approved by CMA, an email will be sent to the individual notifying him of the approval. It will also provide the individual with a one-time password to be used in his first sign-in to his CSU account, where the individual will be requested to change the password to one of his own choosing.
• An instructional video on how to register CSUs is available on the following link: https://www.cma.gov.kw/en/web/ifsah/videos1

- Company User (CU):

• CU accounts are registered and activated by CSU accounts.
• CSU account holders can create unlimited number of CU accounts.
• The registration of the CU is not subject to the review and approval of CMA. Thus, a one-time password will be sent to the CU once the CSU submits the CU registration form. The CU will be required to use the one-time password during his first sign-in to his CU account, post which the CU will be requested to change the password to one of his own choosing.
• The filings submitted by the CU will be directed to the CSU, who will review them and approve their submission to the CMA.
• Instructional video on how to register CUs and edit their details are available in the following link: https://www.cma.gov.kw/en/web/ifsah/videos1

Do Companies Need to Create an Association with The Auditor?

• Yes, the CSU is required to submit a request to associate his company with the auditor before starting to submit filings for the financial statements reporting domain. The auditor will play the role of authentication of submitted filings before it is received by the CMA. Kindly note that auditors’ role is limited to certifying annual and quarterly financial filings for listed companies (whether licensed or non-licensed) and limited to annual filings of unlisted non-licensed companies and funds.
• During the pilot phase (10^th of February 2019 to 30^th of September 2019), no actual auditors accounts will be activated. CMA will take the role of the auditor during this phase, and has created a temporary auditor account with which all entities will be required to create an association during this phase. The name of the temporary auditor account is “CMA Audit Firm – Pilot Phase”. The actual auditors’ accounts will be activated at a later stage of this implementation.
• An instructional video on how to create an association between the entity and the auditor is available in the following link: https://www.cma.gov.kw/en/web/ifsah/videos1

What are the filings that are required to be submitted currently at this stage?

- For the financial reporting domain, entities should submit the following:

• The annual and quarterly financial statements for periods ending in 31^st December 2018 and onwards.
• The monthly reports (for licensed companies and mutual funds) for period ending in 28^th February 2019 and onwards.

- For anti-money laundering domain, entities should submit the annual anti-money laundering report for the period ending in 31^st December 2018.

- Instructional Videos on how to submit the filings in the financial reporting domain and anti-money laundering domain are available in the following link:

If Filings and Reports were submitted though iFSAH portal, do companies and funds need to continue the submissions in the traditional paper-based format?

The main objective of the pilot phase is to introduce the different platform users to the filing requirements and different features made available on the iFSAH portal. In this stage, users will be able to submit their filings through the available reporting domains released in the iFSAH portal, while, at the same time, they are required to continue submitting their reports following the traditional paper-based format. This phase will be an opportunity for the users to test the portal and its many features, and overcome any technical issues they may face.

At the mandatory implementation stage, the traditional paper-based filings will be suspended, and the electronic filings through iFSAH portal will be the only gateway to submit the filings.