Important articles for your business of new federal law

Your business may imposed Penalty up to AED 500,000 (five hundred thousand)

• a fine of AED 10,000 to AED 100,000 – No Audit :ref article 347
• a fine of AED 50,000, but not more than AED 500,000 – No accounting record: ref article 348
• a fine AED 200,000 to AED 1,000,000 (one million)- False statement: ref article 361
• LLC shall have one or more auditors to audit the accounts of the company every year – Article 27

Avoid penalties – Performing audit IFRS standards which is acceptable by upcoming Govt. regulatory bodies

• Make reliable financial reports, take informed decisions
• Internal controls of the business, prevent Irregularities and Fraud
• Make your business accurate and complete

To keep track your business, make audit for internal or external purposes

Govt. introducing VAT 5% from 1 Jan 2018 and registrations will take place by September 2017 for the commercial companies, so please find the link below: – Books of accounts , accounting records to be maintained for 5 years. Please Refer article 27,28,347,348,361 and  365

Download the new federal lawbelow – UAE http://ejustice.gov.ae/downloads/latest_laws2015/federal_law_2_2015_commercial_companies_en.pdf

Please call +971 52 255 4124 or

email : admin@apexauditing.com should you have any questions.