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APPLICATION FORMS AND NOTICES (AFN) – AUD 3

Form AUD 3

Application for registration as a Registered Auditor

Name of applicant

Firms are requested to contact the Supervision Division of the DFSA(Switchboard +9714 362 1500 or [email protected]) before considering completing an application.

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(For DFSA use only)

mailto:[email protected]

APPLICATION FORMS AND NOTICES (AFN) – AUD3

Purpose of this form

This form must be submitted by a person applying to be registered with the DFSA as a Registered Auditor under Part 8 of the Regulatory Law 2004 and the Auditor Module (AUD) of the DFSA Rulebook.

A person wishing to apply for registration as a Registered Auditor must submit a completed copy of this form to the DFSA.

In some cases, the DFSA may require additional information in order to complete the processing of this application. If this is necessary, the DFSA will contact the nominated contact identified in section 2.

Contents

Section Title

1 Declaration

2 Applicant Details

3 Anti-Money Laundering

4 Fit & Proper Questionnaire for the applicant

5 Disclosure of information to the Dubai International Financial Centre Authority (DIFCA)

6 Fee

7 Attachments

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Notes for completing this form

Defined terms are identified throughout this application form by the capitalization of the initial letter of a word or phrase and are defined in the Glossary Module (GLO) of the DFSA’s Rulebook.

Unless otherwise specified, applicant refers to the person seeking the registration as a Registered Auditor.

Prior to completion of this form, the applicant should read the AUD Module of the DFSA Rulebook, AML Module of the DFSA Rulebook and Part 8 of the Regulatory Law 2004.

All sections of the form must be completed.

Questions must be answered fully and the use of abbreviations or acronyms should be avoided or defined.

Do not leave any questions blank. If a question is not applicable this should be indicated in the response section. Failure to answer questions or provide full responses will delay the progress of the application.

Answers must be typed, in electronic format, and the form must be signed by the Managing Partner of the applicant and the proposed Money laundering Reporting Officer (if different).

Please return the completed form to:

Dubai Financial Services AuthoritySupervision DepartmentLevel 13, The Gate BuildingDubai International Financial CentrePO Box 75850Dubai, UAE

Applicants are advised to retain a copy of this form and all relevant attachments for their records.

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1. DECLARATION

Declaration by the applicant

1. I declare that, to the best of my knowledge and belief, having made due enquiry, the information given in this form is complete and correct. I understand that it is an offence under Article 66 of the Regulatory Law 2004 to provide to the DFSA any information which is false, misleading or deceptive or to conceal information where the concealment of such information is likely to mislead or deceive the DFSA.

2. I declare my understanding that the DFSA may request more detailed information (including but not limited to, personal, educational, employment and financial information) should it be deemed necessary to adequately assess the fitness and propriety of the firm or any person connected to the firm. I consent to the DFSA contacting any previous employers, educational institutions, professional organisations or any other organisation, to verify any information contained in this form.

3. I declare that the firm, the Audit Principals and its Employees are fit and proper to perform the audit services.

4. I confirm that I have the authority to make this application, to declare as specified above and sign this form for, or on behalf of, the applicant. I also confirm that I have the authority to give the consent specified above.

5. For the purposes of complying with DIFC Data Protection Law 2007, I understand that any Personal Data provided to the DFSA will be used to discharge its regulatory functions under the Regulatory Law 2004 and other relevant legislation and may be disclosed to third parties for those purposes.

Name of Managing Director / Partner signing this form

/ /

Signature of Managing Director / Partner Date

Name of the MLRO

/ /

Signature of the MLRO Date

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2. APPLICANT DETAILS

2.1 Full or proposed name of person to be registered

2.2 Address of person (include both office and postal address)(Please indicate if current or proposed)

2.3 Person’s head office if applicant is a branch office

2.4 Name of person’s other branches and addresses

2.5 Main telephone number of address in 2.2(incl. country and area codes)

2.6 Main fax number of address in 2.2 (incl. country and area codes)

2.7 Website address (if applicable)

2.8 Applicant’s contact person for this application

Position/title

Correspondence address (if different from 2.2 above)

Telephone number:

Fax number

E-mail address

2.9 Legal nature of the applicant

2.10 Date and place of

incorporation /formation of the applicant

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Note: Please attach a copy of the applicant’s certificate of incorporation/company registration/partnership agreement (as applicable). If in the process of being formed, please state “in formation”

2.11 Please provide details of any adviser engaged by the applicant to assist with the preparation and ongoing support of this application.

Name of the adviser engaged by the audit firm

Relevant contact person within the adviser

Contact address

Telephone/Fax number:

E-mail address

2.12 Details of ownership of applicant

(if insufficient space please attach additional sheets)

2.13 List Recognised Professional Qualifications held by the controllers of the applicant.

Note: AUD 2.2.3 (1)(f) requires that the applicant is controlled by a majority of individuals who hold Recognised Professional Qualifications.

Full name of controllers Full name of Recognised Professional Qualification

Full name of Recognised Professional Body

Note: Please attach a copy of the Recognised Professional Qualifications for all the controllers of the applicant.

2.14 Number of Employees

2.15 Applicant’s financial year end

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2.16 Background and history of applicant (if insufficient space, please attach additional sheets)

2.17 Please indicate whether you intend to provide Audit Services to: (please tick the relevant box)

Domestic Firms and / or Domestic Funds Yes No

Public Listed Companies Yes No

2.18 Please detail the resources to be used to conduct audits of Domestic Firms and Domestic Funds (i.e. human and technological resources, including number of staff, partners, professional staff and other resources, as applicable). (If insufficient space please attach additional sheets)

2.19 Please detail the resources to be used to conduct audits of Public Listed Companies (i.e. human and technological resources, including number of staff, partners, professional staff and other resources, as applicable). (If insufficient space please attach additional sheets)

Note: Please list your previous experience in conducting audits of Public Listed Companies.

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2.20 Please provide your approach to ensuring continuing professional development provided for Employees including Audit Principals (if insufficient space please attach additional sheets)

2.21 Please list the individuals who will undertake responsibilities of Audit Principals. (Rule 2.3.2 of AUD requires A Registered Auditor must at all-time have at least one individual appointed by it to undertake the responsibilities of an Audit Principal).

Audit Principal name

Note: For each Audit Principal listed above, please complete and attach AUD 4 form

2.22 Please provide details of professional indemnity insurance

Before registration, the applicant will need to demonstrate that it holds adequate and appropriate professional indemnity insurance which covers all types of civil liability arising in connection with the conduct of the applicant’s business by Employees, including its Audit Principals.,

Note: Please attach a copy of the applicant’s insurance certificate or cover note.

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2.23 Has the applicant been inspected / assessed by an independent body or had a peer review in the last twelve months?

Yes No If “YES”, please provide details below including a summary of the findings and attach a copy of any findings.

2.24 Do the applicant’s systems, procedures and controls ensure compliance with the International Standards on Auditing (ISAs) as issued by IAASB? (Please provide a copy of the applicant’s systems, procedures and controls. If these are integrated into its internal IT systems then please provide a summary of how the systems, procedures and controls comply with the ISAs). The DFSA may wish to inspect the IT systems to verify compliance.

Yes No

If “No”, please provide details of where systems, procedures and controls do not comply.

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2.25 Does the applicant’s system of quality control operate to meet the requirements as set out under International Standard on Quality Control (ISQC) 1? (Please provide a copy of the applicant’s current quality control policies and procedures. If the applicant’s quality control policies and procedures are integrated into its internal IT systems please provide a summary of how the policies and procedures comply with ISQC 1. The DFSA may wish to inspect the IT systems to verify compliance.

Yes No

If “No”, please provide details of where system does not comply.

2.26 Does the applicant’s system, procedures and controls ensure compliance with the Code of Ethics for Professional Accountants (Code) as issued by International Federation of Accountants (IFAC)? (Please provide a copy of the applicant’s current ethics policies and procedures. If the ethics policies and procedures are integrated into its internal IT systems please provide a summary of how the policies and procedures comply with the IFAC Code. The DFSA may wish to inspect the IT systems to verify compliance.

Yes No

If “No”, please provide details of where system does not comply.

3. ANTI-MONEY LAUNDERING

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3.1 Anti-Money Laundering Procedures

3.1.1 Please attach the applicant’s Anti-Money Laundering policies, procedures, systems and controls, which must be specific to its DIFC activities and comply with the AML Module of the DFSA Rulebook. These policies, procedures, systems and controls should include, amongst other things, arrangements to:

a. Ensure senior management of the applicant is aware of their responsibility for the applicant’s compliance with the AML Module, and the duty to exercise due skill, care and diligence in carrying out these responsibilities;

b. Comply with the UAE Federal Law No.4 of 2002 regarding the Criminilisation of Money Laundering and any other relevant UAE Federal Laws;

c. Monitor for, detect and report suspicious activities, customers and transactions;

Note: Applicants should ensure the procedures include a requirement to comply with the Rules for the making of Suspicious Activity Reports (SARs) in the correct format to the Anti-Money Laundering Suspicious Cases Unit (AMLSCU) of the UAE Central Bank, and the DFSA being immediately notified that a report has been made. Details of the required format of the report and details for submission can be found on the DFSA website;

d. Conduct risk assessments of its business and customers, the finding of which should be used to inform and determine the appropriate level of Customer Due Diligence;

e. Review the effectiveness of its anti-money laundering policies, procedures, systems and controls at periodic intervals;

f. Where relevant, establish and maintain systems and controls to obtain and make appropriate use of relevant resolutions or sanctions issued by the United Nations Security Council;

g. Where relevant, establish and maintain systems and controls to obtain and make appropriate use of any findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions issued by government of the of UAE, Central Bank of UAE, Financial Action Task Force, UAE enforcement agencies and the DFSA;

h. Assess its risks in relation to money laundering and to perform enhanced due diligence investigations as appropriate in light of the risks;

i. Establish and maintain an AML training and awareness programme; and

j. Ensure compliance with any other obligation in the DFSA's AML Module.

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3.1.2 Does the applicant apply similar or equivalent AML policies, procedures, systems and controls mentioned in 3.1.1 to its non-DIFC activities?

Yes No If “No”, please provide details?

3.1.3 Do another jurisdiction's laws or Regulations prevent or inhibit the applicant from complying with the U.A.E. Law No.4 of 2002 regarding Criminilisation of Money Laundering or the AML Module of the DFSA Rulebook?

Yes No

If Yes, please give full details

Note: Should such an event arise in the future audit firms are obliged to notify DFSA in writing promptly

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3.2 Money Laundering Reporting Officer (MLRO)

3.2.1 Full Name of MLRO (as stated in

passport)

3.2.2 Date of birth (DD/MM/YYYY)

3.2.3 Place of birth

3.2.4 Passport(s) number(s)

3.2.5 Please state the country(ies) and place(s) of issue of the applicant’s passport(s)

Please attach a copy of the current passport held by the MLRO, and a copy of their current visa.

3.2.6 Job title/level within the firm

Please attach a detailed job description clearly outlining the MLRO’s role and responsibilities within the firm and attach details of the MLRO’s employment record for the previous 10 years highlighting any experience relevant to the role of MLRO.

3.2.7 Please confirm the MLRO will ordinarily reside in the UAE Yes No

3.2.8 Residential address

3.2.9 Contact details Telephone

Mobile

E-mail

3.2.10 What steps has the applicant taken to ensure that the MLRO is capable and suitably qualified to undertake the roles and responsibilities as set out in AML Module of the DFSA Rulebook. (AML Rule 11.3 and 11.4 lists the qualities and responsibilities of a MLRO respectively). Please provide details.

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3.2.11 Please complete the following questionnaire in relation to the proposed MLROAnswers must be provided to every question.

Has the applicant MLRO: Yes No

(i) been convicted or found guilty by any court of competent jurisdiction in respect of any offence, other than a minor road traffic offence?

(ii) ever been the subject of disciplinary procedures by a government body or agency or any self-regulatory organisation or other professional body?

(iii) contravened any provision of Financial Services legislation or of Rules, Regulations, statements or principle or codes of practice made under or by a Financial Services Regulator or other supervisory body?

(iv) been refused or restricted the right to carry on a trade, business or profession requiring a licence, registration or other authority?

(v) been dismissed or requested to resign from any office of employment?

(vi) been concerned either individually or with the management of a Body Corporate who or which has been or is currently the subject of an investigation into an allegation of misconduct or malpractice?

(vii) received an adverse finding in a civil action by any court of competent jurisdiction of fraud, misfeasance, or other misconduct, whether in connection with the formation or management of a corporation or otherwise?

(viii) received an adverse finding in an agreed settlement in a civil action by any court or tribunal of competent jurisdiction resulting in an award against an individual in excess of $10,000 or awards that total more than $10,000?

(ix) been the subject of an order of disqualification as a Director or otherwise to act in the management or conduct of the affairs of a corporation by a Court of competent jurisdiction or Regulator?

(x) been a Director, or Partner or concerned in the management of a company or Partnership which has gone into insolvent liquidation whilst the individual was connected with that company, Partnership or within one year of such a connection?

(xi) been the subject of complaint in connection with a Financial Service which relates to his integrity, competence or financial soundness?

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(xii) been censured, disciplined, publicly criticised by or the subject of a court order at the instigation of a Financial Services Regulator or any officially appointed inquiry?

If you have answered Yes to any questions, please provide appropriate details of the matter below.

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4. FIT & PROPER QUESTIONNAIRE FOR THE APPLICANT

4.1 Please complete the following questionnaire in relation to the applicant or any of the controllers of the applicant:Answers must be provided to every question.

Has the applicant: Yes No

(i) been convicted or found guilty by any Court of competent jurisdiction in respect of any offence?

(ii) ever been the subject of disciplinary procedures by a government body or agency or any self Regulatory organisation or other professional body?

(iii) contravened any provision of Financial Services legislation or of Rules, Regulations, statements or principle or codes of practice made under or by a self regulatory body, Financial Services Regulator or other supervisory body?

(iv) been refused or restricted the right to carry on a trade, business or profession requiring a licence, registration or other authority?

(v) received an adverse finding in an agreed settlement in a civil action by any Court or tribunal of competent jurisdiction resulting in an award against or payment in excess of $10,000 or awards that total more than $10,000?

(vi) been censured, disciplined, publicly criticised by or the subject of a Court order at the instigation of a Financial Services Regulator or any officially appointed inquiry?

If you have answered Yes to any questions, please provide appropriate details of the matter below.

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5. DISCLOSURE OF INFORMATION TO THE DUBAI INTERNATIONAL FINANCIAL CENTRE AUTHORITY (DIFCA)

The provision of certain information by the DFSA to the DIFCA under the following consent will assist the DIFCA in exercising its functions and powers. It is not mandatory to provide consent and should you not wish to provide consent, we ask that you consider keeping the DIFCA informed of the progress of your application.

I consent / I do not consent to disclosure of the following information by the DFSA to DIFCA:

1. The fact of the filing of this application, together with the name of the applicant;

2. The fact (if applicable) that this application is still being reviewed by the DFSA; and

3. The outcome of this application. An outcome may include a decision by the DFSA to approve this application, in principle or otherwise, or to reject the application or the withdrawal of the application.

6. FEES

Applications will not be processed until the relevant fee is paid in full to the DFSA. Details of the application fees are contained in the FER module of the DFSA Rulebook.

Please make the payment by Bank transfer in US Dollars to the account listed below. Cheques or bank drafts will not be accepted.

Account name Dubai Financial Services Authority

Account number 020-683751-100

IBAN AE080200000020683751100

Bank details HSBC Bank Middle East

PO Box 66

Dubai, UAE

Swift code BBMEAEAD

Reference to be quoted Application fee – [applicant name]

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7. ATTACHMENTS

Section Document Attached?

2.10 Certificate of Incorporation/Company Registration/Partnership Agreement Y N N/A

2.13 Copies of Recognised Professional Qualifications for all the controllers Y N N/A

2.21 AUD 4 form for each Audit Principal Y N N/A

2.22 Professional Indemnity Insurance Certificate or Cover Note Y N N/A

2.23 Copy of findings Y N N/A

2.24 Copy of systems, procedures and controls in relation to International Auditing Standards Y N N/A

2.25 Copy of quality control policies and procedures Y N N/A

2.26 Copy of systems, procedures and controls in relation to Code of Ethics Y N N/A

3.1.1 Anti-Money Laundering procedures Y N N/A

3.2.5 Copy(ies) of passport(s) Y N N/A

3.2.6 MLRO job description Y N N/A

3.2.6 MLRO employment details for the last 10 years Y N N/A

Other Please list Y N N/A

Y N N/A

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