Appointment and Termination of Auditors
CIR 9.3.1 CIR 9.3.1
Fund Managermust:(a) notify the DFSAof the appointment of a Registered Auditorto the Fundby completing and submitting the appropriate form in AFN;(b) prior to the appointment of the Registered Auditor, take reasonable steps to ensure that the Registered Auditorhas the required skills, resources and experience to audit the type of Fundfor which the Registered Auditorhas been appointed; and(c) ensure that the Registered Auditor, at the time of appointment and for the duration of the engagement is registered with the DFSAas a Registered Auditor.
CIR 9.3.1 Guidance [Deleted][Deleted] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]
Fund Managermust notify the DFSAimmediately if the appointment of the Registered Auditoris or is about to be terminated, or on the resignation of the Fund's Registered Auditor, by completing and submitting the appropriate form in AFN.
Fund Managermust appoint a Registered Auditorto fill any vacancy in the office of Registered Auditorand ensure that the replacement Registered Auditorcan take up office at the time the vacancy arises or as soon as reasonably practicable.
CIR 9.3.4 CIR 9.3.4(1) A
Fund Managermust take reasonable steps to ensure that the Registered Auditorand the relevant audit staff of the Registered Auditorare independent of, and not subject to, any conflict of interest with respect to the Fund Manager, the Trusteeor the Fund.(2) A Fund Manageror Trusteemust notify the DFSAif it becomes aware, or has reason to believe, that the Registered Auditoror the relevant audit staff of the Registered Auditorare no longer independent of the Fund Manager, the Trusteeor the Fund, or have a conflict of interest which may affect their judgement in respect of the Fund.
CIR 9.3.4 Guidance1. A
Fund Managershould consider whether there is any financial or personal relationship between it or any of its relevant Employeesand the Registered Auditoror any of the relevant Employeesof the Registered Auditorthat may affect the judgement of the Registered Auditorwhen conducting an audit of the Fundor complying with all its legal obligations, including the Regulatory Law, AUD, AMLand other relevant modules of the DFSARulebook.2. A Fund Managershould consider rotating the appointed relevant staff of the Registered Auditoron a regular basis to ensure that the relevant staff of the Registered Auditorremain independent.
CIR 9.3.5 [Deleted][Deleted] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]