Brunei Entrepreneurs Informed on Legal Record-Keeping Requirements

Bandar Seri Begawan: To ensure entrepreneurs understand and comply with the legal provisions under the Record Keeping (Business) Act, Chapter 249, the Ministry of Finance and Economy in collaboration with the Brunei Darussalam Institute of Certified Public Accountants held a briefing session on the Record Keeping (Business) Act. It was conducted at the Ministry of Finance and Economy on 15th February 2025.

According to Radio Television Brunei, the briefing explained that it is a requirement for every business entity in the country to maintain business records in an orderly manner for at least five years in compliance with the Act. The session emphasized the importance of bookkeeping and the benefits of preparing Financial Statements, which assist business owners in organizing financial plans, making informed financial decisions, and attracting potential investors.