Our internal accounting software can be a succour to clients in meeting the legal requirements for storing the data for years to comply with FTA standards of keeping the book of accounts for a minimum of five years.
The efficient team will make sure that the data entered are faultless and double-checked by the auditors to keep up with the financial standards, and conditions put forward by the client.
Our proficient professionals with the help of ultra-modern accounting software ensure to deliver and present exact net profit with cost, sales, and administrative expenses of each cost center.
The extremely knowledgeable experts in MIS reporting, help us deliver the most precise and accurate information along with client’s desired customised reports that meet every accounting standard within the time limit.
Maintenance of proper books of accounts is a mandatory requirement in Abu Dhabi and to avoid penalties, it is always advised to keep the appropriate records for the business operations.
A minimum of 5 years is the recommended period for retention of records to ensure compliance with the commercial companies’ law except for other specific retention requirements stipulated for any particular circumstances or entities as per the relevant laws of the region.
Accounting year followed in Abu Dhabi is from January to December and the companies registered here are mandated to follow the same for uniformity in reporting.
As per the regulations of the region, international accounting standards and practices are to be followed by the companies when preparing their books of accounts.
For the companies registered with any regulatory authority such as free zones, Central bank, security exchanges etc., preparation and submission of periodic financial statements are mandatory as per the specific rules set by such authorities. For others also, for renewal of licenses and certificates, financial statements are required.
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