Exemption of Micro and Small Enterprises from Some Audit and Disclosure Requirements

According to the Law dated 3 May 2019, the Civil Code was amended to exempt micro and small limited liability companies and open joint-stock companies respectively from the mandatory annual audit requirement and the requirement to publicly disclose financial reports annually.

Before the amendment to the Civil Code, all limited liability companies were required to annually pass external auditing. In addition, all open joint-stock companies were required to publish their financial reports annually. 

The failure to follow these requirements might have caused some administrative penalties. 

Now these requirements apply only to the entities that do not qualify as small or micro enterprises. 

Singapore Convention on Mediation
17 Oct 2019
Singapore Convention on Mediation has been opened for signing
State Registry of Liens over Movable Properties is Available
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Liens over movable property, including pledges can now be registered electronically at the following website adress: https://mpcr.fimsa.az.
Adrem Attorneys is Hiring
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Adrem Attorneys Law Firm is hiring 2 legal interns