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AUD A3.1.1

In producing an Insurance Monies Auditor's Report, an Auditor must state as at the date on which the Authorised Firm's audited statement of financial position was prepared:

(a) the amount of Insurance Monies an Authorised Firm was holding and controlling in accordance with COB section 7.12; and
(b) whether:
(i) the Authorised Firm has maintained throughout the year systems and controls to enable it to comply with the relevant provisions of COB section 7.12;
(ii) the Authorised Firm's controls are such as to ensure that Insurance Monies are identifiable and secure at all times;
(iii) any of the requirements in COB section 7.12 have not been met;
(iv) if applicable, the Authorised Firm was holding and controlling an appropriate amount of Insurance Monies in accordance with COB section 7.12 as at the date on which the Authorised Firm's audited statement of financial position was prepared;
(v) the Auditor has received all necessary information and explanations for the purposes of preparing the report to the DFSA; and
(vi) if applicable, there have been any material discrepancies in the reconciliation of Insurance Monies.
Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]