Submit the annual accounts of political organisations

Financial affairs related to political activities

The Icelandic National Audit Office monitors the finances of political organisations and candidates. The Auditor-General seeks to inform political representatives and candidates of their legal obligations.

Obligation of political organisations to provide information

The Political Association shall, no later than October 31st each year, submit its accounts to the Auditor-General for the preceding year. The Auditor-General shall subsequently publish the annual accounts of political organisations as soon as possible. The account of political associations shall be audited and endorsed by an auditor.

Political organisations may not accept a higher contribution from a legal entity or individual amounting to ISK 550,000. The foundation contribution to political organisations may, however, be up to ISK 1,100,000. The accounts of political associations shall specify the names of all legal entities that have made contributions, as well as the names of the individuals who have made contributions above ISK 300,000.