Maintaining proper books of account for at least 5 years is mandatory for the companies as per the UAE Commercial Company Law 2015. Many free zones in the UAE has made it obligatory to their companies to maintain their company accounts and get the audit done from approved & listed accounting & audit firms in Dubai & UAE.
Financial accounting & bookkeeping has become streamlined globally with the implementation of IFRS but that makes it more technical and complicated. If we see the past five years as an example, the future will come with more regulations, requirements and compliance standard. UAE is a global hub for the business, it is growing every day with new business opportunities. To compete in the market and stand out in the industry, a company’s financial statements and reports must be made by meeting international standards.