10

A candidate shall prepare a financial statement for his/her election campaign in accordance with general accounting principles and have it audited by chartered accountants. The Icelandic National Audit Office shall issue guidelines for preparing financial statements for election campaigns and on the duty to provide information on the statements.
A candidate in an individual-candidate election is exempt from the duty to provide a financial statement if the cost of his/her election campaign does not exceed ISK 300,000.