The Ministry of Finance and Economy (MoFE), in collaboration with the Brunei Darussalam Institute of Certified Public Accountants (BICPA), last Saturday held a briefing session on Chapter 249 of the Record Keeping (Business) Act at the theatre hall of the Ministry of Finance and Economy.
The briefing aimed to ensure enterpreneurs understand and comply with the legal provisions under the Act.
The Revenue Division’s assistant director Haji Mohammad Hassenol bin Haji Abdul Rahman, who delivered the briefing, said that it is a requirement for every business entity in the Sultanate to keep business records in an orderly manner for at least five years.
BICPA Council member Haji Shazali bin Tan Sri Dato Haji Sulaiman, who also briefed the attendees, emphasised on need of bookkeeping and the benefits of preparing financial statements to help business owners make organised financial plans and decisions to attract potential investors.
