DFSA Hosts Annual Audit Outreach

Press release

Published February 19th, 2018 - 12:22 GMT

DFSA staff took the opportunity to outline other work undertaken by the DFSA in recent months.

The Dubai Financial Services Authority (DFSA) hosted its annual outreach event for Registered Auditors (RAs), during which it shared the results of its annual audit inspections carried out in 2017.

Mr Ian Johnston, Chief Executive of the DFSA, delivered the opening address where he commented on the significant progress being made in financial accounting and audit standards, while noting that risks still remain in the audit process. Mr Johnston commented on the need for auditors to do their work diligently, especially with the spotlight that is on auditors when there are notable collapses of companies that have been audited.

DFSA staff took the opportunity to outline other work undertaken by the DFSA in recent months.

The event was targeted at the Managing Partners, Audit Principals, Money Laundering Reporting Officers and senior audit staff of audit firms. Over 90 people attended the event.

Background Information

Dubai Financial Services Authority

The Dubai Financial Services Authority (DFSA) is the sole independent regulator of all financial and ancillary services conducted through the Dubai International Financial Centre (DIFC), a purpose-built free zone in Dubai.

The DFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.