RERA relies on certified auditors to monitor the financial health of off-plan projects. If an auditor deliberately issues a false report on a developer's financial position or conceals essential facts, they face criminal and financial penalties. The…
RERA relies on certified auditors to monitor the financial health of off-plan projects. If an auditor deliberately issues a false report on a developer's financial position or conceals essential facts, they face criminal and financial penalties. The law mandates an imprisonment sentence and a fine of at least AED 100,000, or both, for such actions. This strict enforcement is vital for maintaining the transparency of the Escrow Account system and protecting the funds paid by investors.
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