The role and duty of a Registered Auditor is intended to enhance investor confidence, ensuring the financial statements in the DIFC comply with the required financial reporting standards and give a true and fair view of the financial position of the entity being audited.

A Registered Auditor:
1. must have systems and controls to demonstrate compliance with International Standards on Auditing (ISAs), International Standard on Quality Control (ISQC1) and IESBA Code of Ethics.
2. is controlled by Professionally Qualified Accountant. Reference is made to qualifications recognised by International Federation of Accountants (IFAC).
3. must appoint an Audit Principal (Engagement Partner) to manage the conduct of each audit. These Audit Principals must have the following:
a. A Recognised Professional Qualification
b. Membership of Recognised Professional Body
c. 5 years of relevant audit experience in the last 7 years.
4. must have Professional Indemnity Insurance to cover all civil liabilities.
Public Listed Companies, Domestic Authorised Firms, Authorised Market Institutions and Domestic Funds are required to appoint an auditor which is registered with the DFSA.

Refer to the Public Register for a list of the Registered Auditors and Audit Principals or get in touch with the DFSA if you have any queries. Also refer to the Auditor (AUD) Module of the DFSA Rulebook and the Regulatory Policy and Process Sourcebook.

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