Objectives 

This training program is designed to obtain a clear understanding of the economic laws and regulations in force in the United Arab Emirates that are closely related to the profession of auditors. Which includes, but is not limited to, the following laws:

1) Federal Decree-Law No. 47 of 2022 regarding corporate and business tax.

2) Federal Law No. 12 of 2014 regulating the profession of account auditors, its amendments, its executive regulations, and decisions issued for its implementation.

3) Federal Decree-Law No. 20 of 2018 regarding combating money laundering crimes, combating the financing of terrorism, and combating the financing of illegal organizations.

4) Federal Law No. 7 of 2014 regarding combating terrorist organizations.

5) Cabinet Decision No. 10 of 2019 issuing the executive regulations of Federal Decree-Law No. 20 of 2018 regarding countering money laundering crimes and combating the financing of terrorism and financing illegal organizations.

6) Honorable Cabinet Decision No. 48 of 2022 regarding the issuance of the executive regulations of Federal Law No. 12 of 2014 regulating the profession of auditors and its amendments.

Outlines

• Historical background of economic legislation in the United Arab Emirates, including all previous and new laws and regulations enacted in relation to the auditing profession.

• Why economic legislation is important for practitioners of the auditing profession as well as for the state.

• Federal Decree Law No. 32 of 2021 regarding commercial companies and its amendments:

First: The most important definitions contained in Federal Decree Law No. 32 of 2021 regarding commercial companies and its amendments.

Second: The most important developments stipulated in Law No. 32 of 2021 regarding commercial companies and its amendments in comparison with the provisions of Federal Law No. 8 of 1984 and its amendments. 

Third: Forms of companies in accordance with the provisions of Federal Decree Law No. (32) of 2021 regarding commercial companies:

Fourth: The Auditors in accordance with the provisions of Federal Law No. (32) of 2021

Fifth: Ministerial Resolution No. (272) of 2016 regarding the application of some provisions of joint-stock companies to limited liability companies (articles related to the auditor)

Sixth: The general assemblies of joint-stock companies and limited liability companies in accordance with the provisions of Federal Decree Law No. (32) of 2021 regarding commercial companies.

Seventh: The Board of Directors of the Joint Stock Company.