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On May 21, 2026, the Ministry of Economic Affairs and Employment of Finland submitted a government proposal to parliament for amendments to the Accounting Act, Commercial Register Act, and Auditing Act to digitalize financial statement reporting. Under the proposed changes, companies would prepare and submit financial statements in digital format to the Patent and Register Office (PRH). Digital financial statements, audit reports, and audit memoranda would become mandatory. The PRH would provide small enterprises with a free conversion tool to transform financial statements into the required digital format. The digitalization initiative aims to enhance transparency of company information, improve data accessibility, and facilitate integration of commercial registers at the European Union level. The changes would significantly expand opportunities for authorities and businesses to utilize financial statement information. The proposal applies to public limited companies and general partnerships and limited partnerships where all liable partners are public limited companies. The initiative implements European Union directives on digital tools and procedures, adhering to minimum standards while avoiding unnecessary regulation. Implementation would occur in phases. Changes would generally apply to financial periods beginning on or after July 1, 2027. However, companies without an obligation to appoint an auditor would not be required to comply until financial periods beginning on or after July 1, 2028. Parliament will now consider the proposal for adoption.