In the fast-paced business environment of the Dubai International Financial Centre (DIFC), companies often need to adjust their accounting period. Whether it’s to align with a global parent company’s fiscal year, streamline reporting obligations, or optimize tax efficiency, this change requires a formal step—passing a Board Resolution.
Fortunately, with our free DIFC board resolution template, companies can simplify this process while ensuring compliance with DIFC corporate governance standards.
An accounting period, also known as a financial year, is the specific timeframe for which a company prepares its financial statements. In DIFC, most companies adopt a 12-month period, but flexibility exists to modify this by way of a formal resolution.
Under DIFC Companies Law, every registered company must maintain accurate financial records and submit audited statements for its chosen accounting year. Any change in year-end must be authorized through a board resolution and reflected in filings with the DIFC Registrar of Companies.
Multinational corporations often require subsidiaries to synchronize reporting dates. Aligning with a parent company’s fiscal year ensures consistency across the group.
Although DIFC itself is tax-friendly, aligning financial periods with international tax jurisdictions can help reduce complexities.
Companies may also change their accounting year-end to better match business cycles, seasonal industries, or investor reporting requirements.
A board resolution formally documents the directors’ decision to change the accounting period. It acts as an official record and provides authority for filing the change with DIFC authorities.
For a resolution to be valid, it must comply with the company’s Articles of Association, be properly dated, signed by directors, and executed in accordance with DIFC corporate governance rules.
Use our free template to ensure all required details are included.
DIFC Board Resolution Template
At least two directors, including the Chairman where applicable, must sign the resolution.
Once executed, the resolution must be filed with the DIFC Registrar of Companies to update the official company records.
To help you save time and stay compliant with DIFC regulations, we’ve prepared our ready-to-use board resolution template. It’s structured to include:
Company details (name, type, and jurisdiction)
The official resolution wording to change the accounting period
Signature lines for directors and the chairman
Compliance alignment with your Articles of Association
Instead of drafting from scratch, you can use our professionally formatted template to speed up the process and avoid costly errors.
Download Our Free DIFC Board Resolution Template (Word)
Missing director approvals
Using inconsistent dates
Ignoring Articles of Association compliance
Saves time and legal drafting costs
DIFC-compliant and professional format
Reduces the chances of rejection by the Registrar
Yes, but it must be approved by the board and filed with the Registrar.
At least two directors (including the Chairman, if applicable).
Yes, the resolution must be filed with the Registrar of Companies.
Yes, electronic meetings and signatures are accepted under DIFC rules.
Auditors will adjust their reporting cycle to the new year-end.
👉 You can download our free DIFC Board Resolution template here
Changing an accounting period in DIFC doesn’t have to be complicated. With our free board resolution template, you’ll have the exact wording and structure your company needs to stay compliant.
But drafting the document is only the first step — ensuring it’s filed correctly with the DIFC Registrar and aligned with your company’s Articles of Association is where expert support makes all the difference.
Download Our Free DIFC Board Resolution Template (Word)
And when you’re ready to move forward with confidence, let Theta 7 guide you through the compliance process. From resolutions to filings, we make sure you’re always one step ahead.