Entire Section

  • CIR 9.3.4 CIR 9.3.4

    (1) A Fund Manager must take reasonable steps to ensure that the Registered Auditor and the relevant audit staff of the Registered Auditor are independent of, and not subject to, any conflict of interest with respect to the Fund Manager, the Trustee or the Fund.
    (2) A Fund Manager or Trustee must notify the DFSA if it becomes aware, or has reason to believe, that the Registered Auditor or the relevant audit staff of the Registered Auditor are no longer independent of the Fund Manager, the Trustee or the Fund, or have a conflict of interest which may affect their judgement in respect of the Fund.
    Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
    [Amended] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]

    • CIR 9.3.4 Guidance

      1. A Fund Manager should consider whether there is any financial or personal relationship between it or any of its relevant Employees and the Registered Auditor or any of the relevant Employees of the Registered Auditor that may affect the judgement of the Registered Auditor when conducting an audit of the Fund or complying with all its legal obligations, including the Regulatory Law, AUD, AML and other relevant modules of the DFSA Rulebook.
      2. A Fund Manager should consider rotating the appointed relevant staff of the Registered Auditor on a regular basis to ensure that the relevant staff of the Registered Auditor remain independent.
      Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
      [Amended] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]