Entire Section

  • GEN 8.6 GEN 8.6 Audit reports

    • GEN 8.6.1 GEN 8.6.1

      An Authorised Person must, in writing, require its Auditor to:

      (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with:
      (i) the International Standards on Auditing; or
      (ii) if the Authorised Firm is a Branch and the financial statements have been prepared for its head office, the recognised audit standards in the jurisdiction where the head office is located;
      (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
      (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
      (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3;
      (e) produce, if the Authorised Firm is permitted to hold or control Client Investments or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4; and
      (f) provide a Money Services Auditor's Report in accordance with the Rules in AUD App7, if the Authorised Firm is Providing Money Services, Account Information Services or Payment Initiation Services.
      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM66/2009 (Made 1st August 2009). [VER23/08-09]
      [Amended] DFSA RM69/2010 (Made 1st March 2010). [VER25/03-10]
      [Amended] DFSA RM131/2014 (Made 21st August 2014). [VER34/06-14]
      [Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]
      [Amended] DFSA RMI266/2020 (Made 26th February 2020). [VER48/04-20]
      [Added] DFSA RMI297/2021 (Made 21st April 2021). [VER52/09-21]
      [Added] DFSA RMI305/2021 (Made 30th June 2021). [VER52/09-21]

    • GEN 8.6.2

      An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four months of the Authorised Person's financial year end.


      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM131/2014 (Made 21st August 2014). [VER34/06-14]

    • GEN 8.6.3 GEN 8.6.3

      (1) An Authorised Person must, subject to (2), upon request by any Person, provide a copy of its most recent audited financial statements, together with the Financial Statement Auditor's Report to the Person. If the copy is made available in printed form, the Authorised Person may make a charge to cover reasonable costs incurred in providing the copy.
      (2) The requirement in (1) does not apply to an Authorised Firm which:
      (a) is in Category 3B, Category 3C or Category 4; and
      (b) does not hold or control Client Assets or Insurance Monies.

      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM131/2014 (Made 21st August 2014). [VER34/06-14]

      • GEN 8.6.3 Guidance

        An Authorised Person should be aware that there may be other legislation applicable to it that may require the Authorised Person to provide access to all or part of its financial statements.

        [Added] DFSA RM131/2014 (Made 21st August 2014). [VER34/06-14]