Audit Of DFSA Authorized Firms
KPI is a DFSA Registered Auditor - a distinction earned after a successful appraisal by Dubai Financial Services Authority, through rigorous reviews conducted on our systems, workflows and capabilities.
Overview
Authorized Firms Registered in DIFC and regulated by DFSA are required to be fully compliant with the statutory/external audit requirements in accordance with the DFSA Rules and Regulations. Only DFSA registered Auditors are appointed to carry out the financial statements audit of DIFC regulated entities.
What are the reporting obligations for Authorized Firms?
In addition to the statutory/external audit of financial statements, Authorized Firms/ Persons are required to submit various regulatory returns depending on the financial activity permissions granted by DFSA and FSRA to carry out activities licensed by DIFC and ADGM respectively. The requirements are as follows:
- Regulatory Return Auditor’s Report (on PIB, PIN or AMI)
- Client Money Auditor’s Report
- Insurance Monies Auditor’s Report
- Safe Custody Auditor’s Report
- Fund Auditor’s Report
Get the Right Guidance
KPI’s DFSA services in the UAE are designed to add value by improving the organization’s overall control function. We can assist the Authorized firms with:
- Monitoring and ensuring that the Authorized Firms/Persons comply with the DFSA and DIFC Laws or FSRA and ADGM Laws, Rules and Regulations
- Providing assurance services on maintenance of proper books of accounts through financial statements audit reports and review reports.
- Providing non- assurance services on internal controls and the effectiveness of risk management processes though Internal Audit engagements
- Conducting Agreed Upon Procedures (AUP) engagements on Prudential Reporting and Non-prudential Reporting Requirements.
How Can We Help?
Speak to our experts who can guide you in the right direction and help you to stay ahead
