From 1 January 2027, XBRL filing through Kuwait's Qayd platform becomes mandatory for covered entities. This check helps you understand where your records stand today — and what needs to happen before you start.
⏱ 3 minutes📋 8 questions✓ Completely free
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Question 1 of 8
How are your accounting records currently maintained?
We mean the actual day-to-day method used to record transactions.
Accounting software — kept up to date
Accounting software — not fully up to date
Excel / spreadsheets
Mainly manual / paper records
Not sure
Question 2 of 8
Are all transactions for the latest financial period recorded?
That is: are invoices, payments, revenue, and expenses documented in your records?
Yes, everything is recorded
Mostly — some items still outstanding
No — many transactions are unrecorded
Not sure
Question 3 of 8
Are your bank accounts reconciled against your accounting records?
Bank reconciliation means verifying that your bank statement matches what's recorded in your books.
Yes, fully reconciled
Mostly — small differences under review
No, not reconciled
Not sure what bank reconciliation means
Question 4 of 8
Can you clearly identify what customers owe you and what you owe suppliers?
This means having up-to-date records for accounts receivable (AR) and accounts payable (AP).
Yes, balances are current and supported by documentation
Mostly — some older balances need reviewing
No, records are inaccurate or out of date
Not applicable — we operate entirely on cash
Not sure
Question 5 of 8
If you hold stock or inventory, do your records match the physical count?
If you hold no inventory, select "Not applicable".
Yes, recorded inventory matches the physical count
Small differences under review
No, there are material differences
We have inventory but no reliable accounting records for it
Not applicable — we hold no inventory
Not sure
Question 6 of 8
Are loans, credit facilities, and other major liabilities correctly recorded and supported by current documents?
This means what's in your books matches your bank statements and financing agreements.
Yes, everything is recorded and supported
Mostly — some balances or classifications need reviewing
No, there are material differences
Not applicable — no loans or credit facilities
Not sure
Question 7 of 8
Do you have a Trial Balance or complete set of account balances for the relevant period?
A Trial Balance is a list of all general ledger accounts and their balances — usually extracted from accounting software.
Yes, available and complete
Yes, but it needs review and adjustments
No, not available
Not sure what a Trial Balance is
Question 8 of 8
Have financial statements been prepared or reviewed for the relevant period?
Financial statements: income statement, balance sheet, and cash flow statement.
Yes, complete and ready
A draft exists
No, not yet prepared
Not sure
Positive Signal
Your accounts look to be in good shape
Based on your answers, your accounting records appear organised and complete. That's a positive indicator before moving to XBRL — though a proper review is still required before any preparation begins.
Suggested next steps
1 Confirm that your financial statements are prepared under IFRS — the Qayd platform requires it.
2 Contact OFO if you'd like an initial confirmation of your position before starting the XBRL file.
This check gives you a preliminary indicator of your accounting readiness — it is not an accounting review, an audit, or a final confirmation of XBRL readiness.
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Needs Preparation
The foundation is there — but some preparation is needed before XBRL
Your accounting records are in reasonable shape, but there are small gaps that need addressing before XBRL preparation can start. These are fixable with targeted steps.
Suggested next steps
1 Book a review with OFO to identify the gaps precisely and put a preparation plan in place before the filing deadline.
2 Once the gaps are closed, XBRL preparation can proceed correctly.
This check gives you a preliminary indicator of your accounting readiness — it is not an accounting review, an audit, or a final confirmation of XBRL readiness.
Start the check again
Needs Assessment
The picture isn't clear — you need a specialist review first
Your answers indicate uncertainty across several areas of your records. Before talking about XBRL, the actual state of the accounts needs to be established with professional help.
Suggested next steps
1 Contact OFO for a quick initial review to establish your real position — don't commit to any next step until you know what you're working with.
2 After the assessment, the picture will be clear and you'll know exactly what's required.
This check gives you a preliminary indicator of your accounting readiness — it is not an accounting review, an audit, or a final confirmation of XBRL readiness.
Start the check again
Records Need Fixing
Priority: fix the accounting records — before XBRL
Your answers indicate material issues with the current accounting records. The first step is to fix those records — preparing XBRL on an incorrect base produces rejected filings and wastes time and budget.
Suggested next steps
1 Contact OFO to enquire about OFO Books — fixing and restructuring the books is what needs to be addressed first.
2 Once the records are correct, financial statements can be prepared properly and XBRL follows in the right sequence.
This check gives you a preliminary indicator of your accounting readiness — it is not an accounting review, an audit, or a final confirmation of XBRL readiness.