Reporting Framework
Israeli public companies adopted IFRS in 2008. Prior reports use Israeli GAAP. Banks follow BOI adaptations. Insurance companies follow IFRS 17, which was implemented starting January 1, 2023. As of 2026, most Israeli insurance companies have successfully completed their IFRS 17 transition, though some continue to refine their implementation processes.
Report Types and Deadlines
| Report | Deadline | Content |
|---|---|---|
| Annual (Doch Titkufti) | 3 months after year-end | Audited financials, board report |
| Quarterly (Doch Rivoni) | 2 months after quarter | Reviewed interim financials |
| Immediate (Doch Miyadi) | Hours after event | Material events |
| Shelf Prospectus | Validity period subject to current regulations | Securities offering framework |
Annual Report Structure
- Part A: Description of Business (operations, markets, risks)
- Part B: Board Report (MD&A, financial review)
- Part C: Financial Statements (balance sheet, P&L, cash flow)
- Part D: Additional Information (officer compensation, audit committee)
Key Hebrew Financial Terms
- Maazan = Balance Sheet
- Doch Revach VeHefsed = Income Statement
- Hachnasot = Revenue
- Revach Naki = Net Profit
- Nechasim Shotfim = Current Assets
- Monitin = Goodwill
- Odfim = Retained Earnings
- Tzad Kashur = Related Party
Companies Law Requirements
- Sec. 171: Annual financial statements obligation
- Sec. 172: Board approval required
- Sec. 267-269: Audit committee requirements
- Sec. 270-275: Related party transaction approvals
Examples
Example 1: Analyze a TASE-Listed Company's Annual Report
User says: "Help me understand Teva's latest annual report from MAYA" Actions:
- Identify report type: Annual Report (Doch Shnati) filed on MAYA system
- Locate key sections: Balance Sheet (Maazanit), Income Statement (Doch Revach VeHefsed), Cash Flow
- Extract key metrics: revenue, operating profit, net profit in NIS
- Compare with previous year and sector benchmarks
- Note auditor opinion and any qualifications Result: Structured analysis of annual report with key financial highlights in context
Example 2: Compare Israeli Bank Financial Statements
User says: "Compare Leumi and Hapoalim annual reports" Actions:
- Pull latest annual reports from MAYA (access through current TASE filing system)
- Extract comparable metrics: total assets, net income, ROE, capital adequacy
- Normalize data to NIS millions for comparison
- Note regulatory differences in reporting (Bank of Israel requirements)
- Create comparison table with key ratios Result: Side-by-side comparison of two Israeli banks' financial performance
Bundled Resources
Scripts
scripts/financial_parser.py-- Hebrew-English financial term glossary with search functionality covering balance sheets, income statements, and MAYA filings. Run:python scripts/financial_parser.py --help
References
references/hebrew-financial-terms.md-- Complete Hebrew-English financial terminology reference with tables for financial statements, income statement items, MAYA filing types, and Israeli accounting standards (IFRS-IL). Consult when translating financial terms or navigating Hebrew financial documents.
Gotchas
- Israeli fiscal year follows the calendar year (January-December), not the US October-September fiscal year. Agents trained on US data may assume the wrong fiscal year boundaries.
- IFRS is the mandatory reporting standard for Israeli public companies since 2008. Agents may generate US GAAP-formatted financial statements, which are not compliant in Israel.
- Israeli annual reports are filed with MAYA (the TASE electronic filing system), not with the SEC. Agents may reference EDGAR or SEC filing conventions.
- Monetary amounts in Israeli reports use NIS (New Israeli Shekel), not ILS. While the ISO code is ILS, the common abbreviation in reports is NIS or the shekel sign.
Troubleshooting
Error: "Cannot find report on MAYA system"
Cause: Company may file under a different Hebrew name or subsidiary Solution: Search MAYA by securities number (mispar niyar) rather than company name. Hebrew company names may differ from the English trading name.
Error: "Financial terms not matching standard translations"
Cause: Israeli companies sometimes use non-standard Hebrew financial terminology
Solution: Consult references/hebrew-financial-terms.md for standard terms. Some companies use colloquial Hebrew instead of formal accounting terms (e.g., "profits" instead of "net profit").