AFN AUD1 Notification of Intention to continue to undertake responsibilities of an Audit Principal for a Registered Auditor

Set out here are the preliminary notes relating to the form, click hereclick here to download the specific AFN form above in Word format.

Purpose of this form

The DFSA has recently made amendments to the regulatory regime applicable to auditors of Authorised Firms, Authorised Market Institutions, Public Listed Companies and Domestic Funds. As part of these amendments, the DFSA introduced a requirement to register Audit Principals of Registered Auditors.

Please refer to DFSA Consultation Paper 91 and the recently enacted Regulatory Law 2004 and Auditor Module (AUD) of the DFSA Rulebook for full details regarding amendments to the audit regime and status of Audit Principals. These documents can be found on the DFSA website under the tab "Legal Framework".

Due to the nature of the amendments regarding Audit Principals, the DFSA requires existing Audit Principals to submit a notification to the DFSA confirming their intention to continue to undertake the responsibilities of an Audit Principal under the new regime, in addition to providing details that would, in the future, normally be required for registration of an Audit Principal.

The Audit Principal and relevant Registered Auditor must submit this form by Monday 20th October 2014. If an existing Audit Principal does not intend to undertake the responsibilities of an Audit Principal, the Audit Principal and the relevant Registered Auditor must submit an application to withdraw that individual as an Audit Principal (AUD 2 Form — Application to withdraw Audit Principal Status — found in the AFN Module of the DFSA Sourcebook).


Section Title
1 General Information
2 Fit and proper questionnaire
3 Attachments
4 Declarations

Notes for completing this form

•   Defined terms are identified throughout this application form by the capitalisation of the initial letter of a word or phrase and are defined in the Glossary module (GLO) of the DFSA's Rulebook.
•   Prior to completion of this form, the Audit Principal and the Registered Auditor should read the AUD Module of the DFSA Rulebook and Part 8 of the Regulatory Law 2004.
•   All sections of the form must be completed. Questions must be answered fully and the use of abbreviations or acronyms should be avoided or defined.
•   Do not leave any questions blank. If a question is not applicable this should be indicated in the response section. Failure to answer questions or provide full responses will delay the progress of the application.
•   Answers must be typed in electronic format and the form must be signed by the Audit Principal and the Managing Partner of the Registered Auditor.
•   Versions of this form on the DFSA's website are in PDF format. Editable Microsoft Word versions can be obtained from the DFSA.
•   Passport copy must be provided.