CIR 9.3.4

Past version: effective from 11/07/2010 - 20/08/2014
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(1) A Fund Manager must take reasonable steps to ensure that the relevant audit staff of the 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 relevant audit staff of the Auditor or any member thereof 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 and take immediate steps to rectify the situation.
(3) The relevant staff of an Auditor are independent for the purposes of (1) if their appointment or retention by a Fund Manager is not contrary to any applicable ethical guidance issued by their professional supervisory body.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]