Regulatory accounting guidelines
Statutory financial statements produced by the price- controlled companies (AADC, ADDC, TRANSCO, ADWEC and ADSSC) are general purpose financial statements governed by UAE Commercial Company Law of 1984 (as amended) and International Financial Reporting Standards (IFRS), and provide financial information at the company level. Separate Business Accounts (SBAs) are produced by the price-controlled companies for regulatory filing with the Bureau (merged with Department of Energy (DoE) under Law No 11 of 2018), and provide audited information on each separate business of these companies. These guidelines set out the DoE’s requirements for preparation and presentation of the SBAs.
Building on enhanced information availability in the SBAs, we performed a detail analysis of the companies’ 2014 performance against the price control targets and previous year’s performance and presented the same to companies at the executive management level. From 2015, we requested the companies present thee review of their performance on annual basis to the DoE management following their submission of SBAs.
Regulatory Accounting Guidelines for TRANSCO
Statutory financial statements produced by the price controlled companies (AADC, ADDC, TRANSCO, ADWEC and ADSSC) are...
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