GEN 8.4 GEN 8.4 Appointment and termination of Auditors
Authorised Personmust:(a) notify the DFSAof the appointment of an Auditorby completing and submitting the appropriate form in AFN;(b) prior to the appointment of the Auditor, take reasonable steps to ensure that the Auditorhas the required skills, resources and experience to audit the business of the Authorised Personfor which the auditor has been appointed; and(c) if it is a Domestic Firm, ensure that the Auditor, at the time of appointment and for the duration of the engagement, is registered with the DFSAas a Registered Auditor.
Authorised Personmust notify the DFSAimmediately if the appointment of the Auditoris or is about to be terminated, or on the resignation of its Auditor, by completing and submitting the appropriate form in AFN.
Authorised Personmust appoint an Auditorto fill any vacancy in the office of Auditorand ensure that the replacement Auditorcan take up office at the time the vacancy arises or as soon as reasonably practicable.
GEN 8.4.4 GEN 8.4.4(1) An
Authorised Personmust take reasonable steps to ensure that the Auditorand the relevant audit staff of the Auditorare independent of and not subject to any conflict of interest with respect to the Authorised Person.(2) An Authorised Personmust notify the DFSAif it becomes aware, or has reason to believe, that the Auditoror the relevant audit staff of the auditor are no longer independent of the Authorised Person, or have a conflict of interest which may affect their judgement in respect of the Authorised Person.
GEN 8.4.4 Guidance1. An
Authorised Personshould consider whether there is any financial or personal relationship between it or any of its relevant Employeesand the Auditoror any of the relevant Employeesof the Auditorthat may affect the judgement of the Auditorwhen conducting an audit of the Authorised Personor complying with all its legal obligations, including the Regulatory Law, AUD, AMLand other relevant modules of the DFSARulebook.2. An Authorised Personshould consider rotating the appointed relevant staff of the Auditoron a regular basis to ensure that the relevant staff of the Auditorremain independent.
If requested by the
DFSA, an Authorised Personwhich carries on Financial Servicesthrough a Branchmust provide the DFSAwith information on its appointed or proposed Auditorwith regard to the Auditor's, skills, experience and independence.
GEN 8.4.6 [Deleted]
GEN 8.4.7 [Deleted]
GEN 8.4.8 [Deleted]