W276/2014 GEN — Fisher Asset Management LLC
|To||Fisher Asset Management LLC|
Office 15, 15th Floor, The Gate Building, DIFC,
PO Box 121208, Dubai, UAE
|DFSA Firm Reference No.||F002240|
THE DFSA HEREBY GIVES NOTICE THAT:
(1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:
(a) the International Financial Reporting Standards (IFRS)
(b) the generally accepted accounting principles in the United States (US GAAP),
except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.
(2) In this Rule US GAAP has the meaning given to that term in statement no. 162 as issued by the Financial Accounting Standards Board.
An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to:
(a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the Generally Accepted Auditing Standards (US GAAS) as issued by American Institute of Certified Public Accountants Auditing Standards Board and the Auditing Standards of the Public Company Accounting Oversight Board of the United States in respect of its financial business;
(b) produce a report on the audited accounts which states:
(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;
(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and
(iii) any other matter or opinion relating to the requirements of this chapter;
(c) produce an Auditor's Annual Report which states whether:
(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or US GAAS;
(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or US GAAS;
(iii) the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;
(iv) …………………………..and so on as per the Rulebook text up to and including (h).
The Modification remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies carries on Financial Services through a Branch in the DIFC.
If the condition stated above is breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.
THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
|Position:||Managing Director, Supervision|
|DATE OF ISSUE:||27 April 2014|