DMCC (JLT) Approved Auditors

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DMCC Freezones are located at the Jumeriah Lake Towers (JLT). We are the approved auditors of Dubai Multi-Commodity Center Freezones. In addition, we can guarantee to provide the best professional services. Call us now in order to get a good offer. Consequentially, let us know if you would like to avail yourself of any of our other professional services.

Approved Auditors Rules

1. DEFINITIONS

A capitalized term used in these Rules has the meaning given to that term in the following table:

Term	Definition
Approved Auditors Advisory Panel	the advisory panel is constituted and maintained by DMCCA to oversee and effect the implementation of these Rules.
Approval Criteria	the approval criteria for an Approved Auditor set out in Chapter 2 of the Approved Auditor Guidance Note.
Approval Process	the approval process for an Approved Auditor set out in Chapter 2 of the Guidance Note.
Approved Auditor	any Audit Firm approved by DMCCA for the purposes of Section 11 of the Company Regulations through the application of these Rules.
Approved Auditor Guidance Note	a guidance note to Member Companies explaining in greater detail certain procedures pursuant to these Rules, a copy of which can be located on the DMCC website.
Approved Auditor List	the list of Approved Auditors is maintained by DMCCA from time to time pursuant to these Rules, a copy of which can be located on the DMCC website.
Articles	has the meaning given to that term in the Company Regulations.
Audit Firm	a commercial entity located in the UAE, with a valid trade license to carry out the activities of auditing accounts.
Audit Partner	a Principal who holds a certificate from the MOE and is legally authorized to report on company accounts. The Audit Partner may, but is not required to be, the Lead Auditor of the Audit Firm.
Audit Report	an audit report issued by an Approved Auditor following examination of annual accounts prepared by a Member Company, all of which is to be conducted pursuant to Section 11 of the Company Regulations.
AFS	audited financial statements, being any annual accounts prepared by a Member Company and examined and reported on by an Approved Auditor by way of Audit Report in accordance with Section 11 of the Company Regulations.
Business Day	a day (other than a Friday or Saturday) on which banks are generally open in the UAE for normal business.
Company Regulations	the Company Regulations issued by the DMCCA, as may be amended by DMCCA from time to time, a copy of which can be located on the DMCC website.
DMCCA	Dubai Multi Commodities Centre Authority.
DMCC Free Zone	Dubai Multi Commodities Free Zone, established pursuant to Law No. 4 of 2001 and by virtue of Decision No. 4 of 2002 issued in the Emirate of Dubai.
International Financial Reporting Standards	has the meaning given to that term in the Company Regulations.
KYC	know your customer.
Lead Auditor	any appointed representative of an Audit Firm who has a Public Accounting Qualification and a minimum of 10 years of public accounting experience.
Member Company	any company registered and licensed to operate in the DMCC Free Zone.
MOE	the Ministry of Economy of the UAE.
Notification of Change Process	the notification of the change process for an Audit Firm is set out in Chapter 2 of the Approved Auditor Guidance Note.
Renewal Process	the renewal process for an Approved Auditor is set out in Chapter 2 of the Approved Auditor Guidance Note.
Rules	these DMCCA Approved Auditors Rules, version 2.0, dated January 2019, which rules may be amended by DMCCA from time to time.
Public Accounting Qualification	a professional qualification in public auditing that permits an individual to practice public accounting in the country in which the certifying accounting body is domiciled.
Principal	any partner or shareholder of an Audit Firm, who is the beneficial owner or UBO of that Audit Firm.
Summary Sheet	a summary sheet in the standard form required by DMCCA from time to time that confirms specific information regarding details contained in the relevant AFS, which sheet is to be completed by the Member Company and verified and signed by the Audit Partner in accordance with Clause 4.3.3.
UAE	the United Arab Emirates
UBO	an ultimate beneficial owner of a company.

2. BACKGROUND AND PURPOSE
   1. The DMCCA Approved Auditor Rules, version 1.0, issued on 12th of January 2017 set out the criteria and process for the initial registration of Audit Firms permitted to audit the annual accounts of Member Companies.
   2. These Rules replace the existing rules in their entirety with effect from 1st February 2019.
   3. Through the adoption of a risk-based approach to compliance within the DMCC Free Zone, these Rules emphasize the responsibilities of the Approved Auditor in examining and reporting on annual accounts prepared by a Member Company in accordance with Section 11 of the Company Regulations.
   4. The purpose of these Rules is to achieve the following:
      1. better quality audit services provided by Audit Firms to Member Companies;
      2. DMCCA has the assurance that an AFS represents a true and fair view of the financial position of a Member Company at the end of the relevant period;
      3. any inaccuracies in annual accounts prepared by a Member Company are identified by auditors with Public Accounting Qualifications and sufficient experience; and
      4. any suspicion of fraud, money laundering or other non-compliance is identified by an Approved Auditor at the source.
   5. These Rules include the following details:
      1. identification of the roles of Member Companies, Principals, Approved Auditors, Audit Partners and Lead Auditors pursuant to these Rules;
      2. procedural aspects of applying for appointment or renewal of any appointment as Approved Auditor; and
      3. DMCCA’s role to monitor and review Approved Auditors on an on-going basis.

ROLE OF MEMBER COMPANIES

A Member Company must submit an AFS in accordance with Section 11 of the Company Regulations.

Subject to Rule 3.3, these Rules do not apply to a Member Company registered as a branch company whose annual accounts are prepared as part of a set of group accounts by its parent company’s group auditor.

If a Member Company that is registered as a branch company appoints an auditor to examine and report on the annual accounts of the Member Company on a standalone basis, such auditor must be an Approved Auditor.

It is the responsibility of a Member Company to ensure that the Audit Firm whom it engages to prepare an Audit Report for an AFS is an Approved Auditor. A Member Company should not engage or renew the engagement of an Audit Firm to prepare an Audit Report for an AFS unless that Audit Firm appears on the Approved Auditor List at the time of such engagement or renewal.

If a Member Company submits an AFS to DMCCA containing an audit report from an auditor who is not an Approved Auditor, DMCCA reserves the right to reject the submission of the AFS at any time and impose sanctions on the Member Company in respect of such breach of these Rules. The Member Company must resubmit the AFS with an Audit Report by an Approved Auditor to avoid further sanction by DMCCA.

It is the responsibility of a Member Company to ensure that an authorised representative of the Member Company completes the online service request to submit the AFS including completing the Summary Sheet so that the submitted information is true and accurate in all material respects.

ROLE OF APPROVED AUDITOR

An Approved Auditor is at all times accountable for compliance by the Audit Firm with these Rules.

An Approved Auditor must complete the Auditor’s Report in accordance with Section 11 of the Company Regulations.

In performing its role pursuant to Section 11 of the Company Regulations, the Approved Auditor must ensure the following:

the annual accounts are approved by the board of directors of the Member Company and signed on their behalf by at least one of them;

the Audit Report is signed and stamped by the Audit Partner; and

the Summary Sheet is completed fully and accurately based on the information provided in the AFS and signed and stamped by the Audit Partner.

The role of the Approved Auditor is to obtain reasonable assurance that the annual accounts prepared by the Member Company are free from material misstatements, whether due to fraud or error and are properly prepared in accordance with International Financial Reporting Standards.

Without limitation to the generality of Rule 4.4, the Approved Auditor must ensure the following:

that the Auditor’s Report states:

whether in the Approved Auditor’s opinion, the accounts have been properly prepared in accordance with International Financial Reporting Standards;

the accounts give a fair and true view of the profit and loss of the Member Company for the relevant financial year;

the state of the Member Company’s affairs at the end of the financial year;

that the Member Company is undertaking only activities permitted under its commercial license;

any of the following, when applicable to the annual accounts:

an “adverse opinion”;

a “disclaimer of opinion”; or

a “qualified opinion;

any other matter or opinion required by DMCCA from time to time.

that the Approved Auditor is satisfied that:

the financial period and share capital stated in the annual accounts are validated according to the Articles of the Member Company;

bank balances are confirmed by the banks;

any absence of a Member Company bank account is highlighted;

salary expenses are disclosed in the annual accounts;

all notes have been fully and properly detailed and

revenue generated from commercial activities that are outside the scope of licensed activities are disclosed as other income.

The Approved Auditor must conduct itself in accordance with the following principles:

Principle 1 Integrity:

The Approved Auditor must act with integrity at all times.

1. Principle 2 Due skill, care and diligence, including professional competence:

The Approved Auditor must act with due skill, care and diligence in performance of professional audit services to its appointing Member Company.

The Approved Auditor must ensure that its employees enhance their knowledge, skills, and other competencies through continued professional development to ensure they remain current on all changes in law, regulation and practice.

1. Principle 3 Objectivity:

The Approved Auditor must maintain impartiality and avoid any conflict of interest.

1. Principle 4 Confidentiality:

The Approved Auditor must maintain the confidentiality of information acquired in the course of their appointment with the Member Company. Disclosure of confidential information is permitted if required by law including for the purposes of investigation and/or enquiry by DMCCA.

1. Principle 5 Cooperation with DMCCA:

The Approved Auditor must deal with DMCCA in an open and cooperative manner and must disclose information regarding a Member Company reasonably required by DMCCA.

1. ROLE OF AUDIT PARTNER
   1. The role of an Audit Partner is to:
      1. be accountable for the role of the Approved Auditor under these Rules;
      2. maintain all qualifications, certifications, licenses and such other approvals, consents and permits required of any Audit Partner, Lead Auditor and any other employees of the Audit Firm to ensure that the Approved Auditor continues to comply with these Rules; and
      3. ensure that all information submitted to DMCCA on behalf of the Audit Firm is true and accurate in all material respects.
   2. Without limitation to Rule 5.1:
      1. it is the responsibility of the Audit Partner to:
         1. submit any application on behalf of its Audit Firm to be appointed as an Approved Auditor; and
         2. submit any application on behalf of its Audit Firm to renew its appointment as an Approved Auditor; and
         3. ensure DMCCA is notified of any change in Audit Firm details since last notification,
         4. each, in accordance with these Rules;
      2. the Audit Partner is accountable for the contents of any Audit Report submitted pursuant to these Rules including, without limitation, the validity and accuracy of the Audit Report; and
      3. it is the responsibility of the Audit Partner to:
         1. check the validity and accuracy of an Audit Report;
         2. sign any Audit Report on behalf of the Audit Firm;
         3. ensure that a Lead Auditor is appointed on behalf of the Approved Auditor as all times;
         4. notify DMCCA of any change in Audit Firm details since last notification; and
         5. represent the Approved Auditor in any dealings with DMCCA, failing which, delegate such authority to the Lead Auditor by written notice to DMCCA in accordance with Rule 7.3.
2. ROLE OF LEAD AUDITOR
   1. The role of a Lead Auditor is to be responsible for the day-to-day obligations of the Approved Auditor under these Rules.
   2. Without limitation to Rule 7.1, the Lead Auditor is responsible for:
      1. Preparing, or overseeing the preparation of, any Audit Report in compliance with these Rules; and
      2. the validity and accuracy of an Audit Report, if the Audit Partner does not hold a Public Accounting Qualification.
   3. A Lead Auditor can be appointed by the Audit Partner to represent the Approved Auditor in any day-to-day dealings with DMCCA, provided a written delegation of authority is signed by the Audit Partner and a copy is provided to DMCCA. Notwithstanding any such delegation of authority to represent the Audit Partner, the Audit Partner shall remain responsible for any act or omission of the Lead Auditor.

1. PROCESS TO BE APPOINTED AS AN APPROVED AUDITOR

1. To be appointed as an Approved Auditor, an Audit Firm must make an application in accordance with the Application Process.
2. An Audit Firm is eligible for appointment to the Approved Auditor List provided it meets the Approval Criteria.
3. It is the responsibility of the Approved Auditor Advisory Panel to assess and determine any application of an Audit Firm to be appointed as an Approved Auditor.
4. The Approved Auditor Advisory Panel maintains and publishes the Approved Auditor List.
5. The appointment of an Audit Firm as an Approved Auditor is a decision for the Approved Auditor Advisory Panel, in its sole discretion. DMCCA is not obliged to give any reasons for its assessments or determinations.
6. An Audit Firm will be appointed as an Approved Auditor by publication of the Audit Firm on the Approved Auditor List. The appointment is effective from the date of publication, unless otherwise notified by DMCCA.
7. Any original documents of support of an application by an Audit Firm to be appointed as an Approved Auditor must be retained in safe custody by the Audit Firm and made available to DMCCA upon its request.

1. SUSPENSION, REJECTION OR TERMINATION OF AN APPROVED AUDITOR
   1. The suspension, termination or rejection of an Audit Firm as an Approved Auditor is a decision for the Approved Auditor Advisory Panel, in its sole discretion. DMCCA is not obliged to give any reasons for its assessments or determinations.
   2. In the case of any suspension, termination or rejection of an Audit Firm, the Audit Firm will be notified in writing by DMCCA, which notification is to be provided to the Audit Firm at the contact details last notified to DMCCA and deemed effective from the date of the notice. In the case of suspension or termination, the Audit Firm will be removed from the Approved Auditor List on the date of such notice.
   3. If DMCCA issues a notice of suspension, rejection or termination of an Audit Firm at any time or if the application of an Approved Auditor has not been renewed pursuant to the Renewal Process, the Audit Firm:
      1. must not accept any new appointment or renewal of appointment to provide audit services to a Member Company from the date of such notice; and
      2. may fulfil any obligation to provide audit services which arose prior to the date of such notice, provided the Audit Firm provides documentary evidence of instruction by the Member Company to provide audit services for the latest audit period.
   4. If the application by an Audit Firm has been rejected or the appointment of an Approved Auditor has been terminated, the Audit Firm may re-apply to be appointed as an Approved Auditor provided the circumstances for termination or rejection have ceased to exist or have been remedied in full to the satisfaction of DMCCA.

1. MONITORING AND REVIEW
   1. DMCCA conducts on-going monitoring and review of Approved Auditors through sample checking of AFS submitted by a Member Company, review and assessment of responses to questionnaires submitted by Approved Auditors, investigations and other forms of monitoring and review in accordance with laws and compliance best practices.
   2. An Audit Firm must cooperate with DMCCA at all times including attend meetings at reasonable request of DMCCA and provide DMCCA such documents and other information requested by DMCCA or on behalf of any other competent authority.
   3. DMCCA reserves all rights to take such action as it sees fit arising from any monitoring or review of an Approved Auditor including, without limitation, suspension or removal of an Approved Auditor from the Approved Auditor List.

1. ANNUAL RENEWAL PROCESS
   1. The appointment of an Audit Firm as an Approved Auditor is for a continuous period of twelve (12) months from the date of appointment. The appointment will expire automatically on this date, unless the appointment is renewed in accordance with these Rules.
   2. To be renewed as an Approved Auditor, an Audit Firm must make an application for renewal in accordance with the Renewal Process.
   3. An application for renewal of appointment must be made no later than 20 Business Days prior to the date of expiry of appointment of the Approved Auditor.
   4. An Audit Firm is eligible for renewal of appointment as an Approved Auditor provided it:
   5. meets the Approval Criteria; and
      1. is the subject of favorable outcome of any monitoring and review during any preceding appointment period.
   6. Rules 7.3 to 7.7 (inclusive) also apply to the annual renewal process.

1. CHANGE OF AUDIT FIRM DETAILS
   1. Any change in Audit Firm details must be notified to DMCCA immediately and, in any event, no later than 10 Business Days after the effective date of any change.
   2. In notifying DMCCA of any change in Audit Firm details, the Audit Firm must comply with the Notification of Change Process.

1. GENERAL
   1. DMCCA reserves all powers, rights and authority to request documents or any other information in the interests of maintaining the administration, operation and integrity of these Rules.
   2. The Approved Auditor Guidance Note sets out the detailed processes required by DMCCA in the administration and operation of these Rules. The terms of the Approved Auditor Guidance Note are deemed to form an integral part of these Rules.
   3. For further information, visit our website at www.dmcc.ae or contact us at 600 54 DMCC (600 54 3622) for local enquiries or 971 (0) 4 424 9600 for international enquiries.

Approved Auditors Guidance Notes

Chapter 1. COMPANY REGULATIONS

1. AUDITOR

Every Company must appoint an auditor who must examine and report on the financial accounts of that Company.

2. WHEN TO PREPARE AND SUBMIT FINANCIAL ACCOUNTS

• The directors of a Company must prepare and approve financial accounts and arrange for these to be audited by an auditor approved by DMCCA and approved by the shareholders of the company within six months after the end of the financial year of the Company.

• A copy of the company accounts and auditor’s report must be filed with the Registrar within five Business Days of the relevant shareholders’ meeting approving the audited accounts.

3. HOW TO APPOINT OR REMOVE AN AUDITOR

• An auditor is appointed by the shareholders passing an Ordinary Resolution at a General Meeting.

• The shareholders may at any time remove an auditor by passing a Special Resolution.

• If an auditor resigns, the shareholders must meet to appoint a new one.

4. HOW DOES AN AUDITOR RESIGN?

• An auditor may resign by sending:

• written notice to the Company; and

• a statement confirming that there are no circumstances connected with the resignation which should be brought to the attention of the shareholders or the creditors of the Company.

• If there are circumstances connected with an auditor’s resignation that the shareholders or the creditors of the Company should know, the auditor must provide a statement of these circumstances.
• If there are any circumstances connected to an auditor’s resignation, the Company must, within ten business days of receiving an auditor’s resignation and statement of circumstances, send the statement of circumstances to every shareholder of the Company and to every person entitled to receive notices of General Meetings.

5. WHO CAN BE APPOINTED AS AN AUDITOR?

• A Company can only appoint an auditor if:

• the auditor has been approved and registered by DMCCA;

• the auditor has consented in writing to the appointment;

• the Company, having made reasonable enquiries, is not aware of any matter which would prevent the auditor from consenting to the appointment.

6. WHAT ARE AN AUDITOR’S DUTIES?

• An auditor must determine whether:

• proper accounting records have been kept by the Company;

• proper returns adequate for the audit have been received from branches not visited by the auditor;

• the Company’s accounts are in agreement with the accounting records and returns; and

• the Company’s accounts have been prepared in compliance with the applicable accounting standards.

7. WHAT IS AN AUDITOR’S REPORT?

• An auditor must prepare a report on the accounts of the Company.

• An auditor’s report must state, among other things, that the accounts have been properly prepared and give a true and fair view of the profit or loss of the Company for the financial year.

• An auditor must state in their report if:

• the Company’s accounts are not in order; or
• the auditor has not received all the information and explanations which are necessary for the purposes of the audit.

8. WHAT ARE AN AUDITOR’S POWERS?

• An auditor:

• must have a right of access, at all reasonable times, to all the records of a Company;

• may ask questions to and require officers to provide explanations in respect of the Company’s accounts as necessary; and

• should receive notice of, and attend, any General Meetings during which the auditor may discuss matters which concern him or her.

Chapter 2. APPROVED AUDITOR RULES¹

1. HOW DO I APPLY TO BE AN APPROVED AUDITOR (AA)?

• To be appointed as an Approved Auditor, an Audit Firm must apply by preparing the following forms and documents

• application form, a copy of which is located at AA Application Form

• KYC Form completed for each of the Principal, Audit Partner and Lead Auditor, a copy of which is located at AA KYC Form

• copy of the valid certificate from the UAE Ministry Of Economy authorizing the Audit Partner to report on company accounts;

• copy of valid commercial/professional trade license;

• passport copy and visa page for each of the Principal, Audit Partner, Lead Auditor and other qualified audit team members (maximum of 5);

• qualification certificates for each of the Audit Partner, Lead Auditor, and other qualified audit team members (maximum of 5);

• if Audit Partner does not have a Public Accounting Qualification, a copy of the employment contract of the Lead Auditor, who has a Public Accounting Qualification.

• curriculum vitae confirming professional qualifications and experience for each of the Audit Partner, Lead Auditor, and other qualified audit team members (maximum of 5);

• disclosure statement completed for the Audit Firm, a copy of which is located at Disclosure Statement.

• All forms should be duly completed and signed by the Audit Partner of the Audit Firm.

• Documents should be submitted by email to ApprovedAuditor@dmcc.ae, which should not exceed a maximum of 5 MB for every email.

• On submission of documents, the Audit Firm will be notified with the payment instruction advice to settle the application fee (see item 3 below).

¹ A capitalized term used in this section has the meaning given to that term in the Approved Auditor Rules.

• On receipt of payment by DMCCA, a service request number will be generated and an email notification will be sent to the contact e-mail address of the Audit Firm.

• During the assessment of the application, DMCCA may contact the Audit Firm in case additional information is required.

• A notification will be sent to the Audit Firm when a decision has been made. If the application is approved, the Audit Firm must pay any outstanding application fee to allow the registration process to be completed.

2. HOW DO I APPLY FOR A RENEWAL OF MY APPOINTMENT AS AN APPROVED AUDITOR?

• Three (3) months prior to your scheduled renewal date, DMCCA will send you a reminder to initiate your renewal application.

• To be renewed as an Approved Auditor, an Audit Firm must apply to the DMCCA by submitting via email to ApprovedAuditor@dmcc.ae, the following forms and documents no later than 20 Business Days prior to the date of expiry of appointment of the Approved Auditor.

• renewal application form, a copy of which is located at  AA Application Form;

• disclosure statement completed for the Audit Firm, a copy of which is located at AA Renewal Questionnaire;

• survey form, a copy of which is located at Approved Auditors Survey Form;

• copy of valid certificate from the UAE Ministry Of Economy authorizing the Audit Partner to report on company accounts;

• copy of valid commercial/professional trade license;

• valid passport copy and visa page for each of the Principal, Audit Partner, and Lead Auditor and other qualified audit team members (maximum of 5);

• list of current DMCC clients of the audit firm in excel format.

• KYC Form completed for each of the Principal, Audit Partner and Lead Auditor, a copy of which is located at AA KYC Form (if there have been any changes since the last submission);

• qualification certificates for each of the Audit Partner, Lead Auditor, and other qualified audit team members (maximum of 5) (if there have been any changes since the last submission);
• if the Audit Partner does not have a Public Accounting Qualification, a copy of the employment contract of the Lead Auditor, who has a Public Accounting Qualification (if there have been any changes since the last submission);

• curriculum vitae confirming professional qualifications and experience for each of the Lead Auditor, and other qualified audit team members (maximum of 5) (if there have been any changes since the last submission);

• All forms should be duly completed and signed by the Audit Partner of the Audit Firm.

• Documents should be submitted by email to ApprovedAuditor@dmcc.ae which should not exceed a maximum of 5 MB for every email.

• The renewal application will be reviewed and the Audit Firm will be notified with the payment instruction advice to settle the renewal fee (see item 3 below).

• On receipt of payment by DMCCA, a service request number will be generated and an email notification will be sent to the contact e-mail address of the Audit Firm.

• During the assessment of the application, DMCCA may contact the Audit Firm in case additional information is required.

• A notification will be sent to the Audit Firm when a decision has been made.

3. HOW MUCH ARE THE APPLICATION AND RENEWAL FEES?

Fees	AED
Registration fee (for new applications): 50% payable on submission of application (non-refundable) 50% payable on notification of approval.	3,000.00
Renewal fee (payable annually on approval if renewed)	1,000.00
Knowledge & Innovation fee (for each payment or part payment)	20.00

• 50% of the registration fee which is payable on the application is paid by the Audit Firm on a non-refundable basis regardless of the outcome of the application and the balance of 50% is to be settled upon approval of the registration.

4. WHAT ARE THE APPROVAL CRITERIA FOR APPOINTMENT OR RENEWAL?

• In order for an Audit Firm to be approved as an Approved Auditor and be maintained on the Approved Auditor List, the Audit Firm must be able to demonstrate to DMCCA’s satisfaction that the Audit Firm meets or otherwise complies with the following minimum requirements:

• the Audit Firm has an Audit Partner or Lead Auditor that has a Public Accounting Qualification (defined below) and a minimum of 10 years of public accounting experience;

• the Audit Firm has a valid commercial/professional trade license from a recognized competent authority within the UAE that permits the activities of auditing accounts;

• the Audit Firm has a physical location in the UAE;

• the Audit Partner has a certificate of valid accreditation from the UAE Ministry of Economy;

• the Audit Firm has demonstrated sufficient capacity and professional qualifications of personnel who will be providing audit services to a Member Company;

• Public Accounting Qualification means a professional qualification in public accounting that permits an individual to practice public accounting in the country in which the certifying accounting body is domiciled. For example, a qualification from any of the following professional bodies is acceptable:

• ICAEW (UK)

• ICAS (UK)

• ACCA (UK)

• CAI (Ireland)

• CPA (US)

• CAANZ (Australia /NZ)

• CPAC(Canada)

• ICAI (India)

• ICAP (Pakistan).

The above non-exhaustive list of professional bodies is not a definitive list of public accounting qualifications acceptable to DMCCA. The acceptability of any qualification is at the sole discretion of DMCCA.

5. HOW DO I NOTIFY DMCCA OF ANY CHANGE IN AUDIT FIRM DETAILS?

• It is the responsibility of the Audit Partner to notify DMCCA of any change in Audit Firm details immediately and, in any event, no later than 10 Business Days after the effective date of any change.

• A change in Audit Firm details includes any of the following matters:

• change in any Principal;

• change in any Audit Partner;

• change in any Lead Auditor;

• change in any personnel with Public Accounting Qualifications;

• change in any personnel providing audit services to or on behalf of a Member Company;

• change in any certifications or qualifications of any personnel referred to above;

• change in address or other contact details of the Audit Firm; and

• any such matters notified by DMCCA from time to time.

• Changes can mean removal, appointment, secondment, replacement or other alternation in organizational team structure or location.

• An Audit Firm must notify DMCCA of any such change in writing by submitting a letter, signed by the Audit Partner which can be sent by e-mail to ApprovedAuditor@dmcc.ae or by creating a case through DMCC Help Centre.

• If the change involves a change in personnel, the notification must include a copy of the revised organizational team structure of the Audit Firm.

6. HOW DO I CHALLENGE ANY DECISION OF DMCCA?

• Decisions are made by DMCCA at its sole discretion.

• If you have valid grounds to challenge the decision of DMCCA on any matter relating to the Rules, you may submit a request for appeal by sending an email notification to ApprovedAuditor@dmcc.ae or by creating a case through DMCC Help Centre, setting out details of the grounds for appeal and including supporting documentary evidence of such grounds.
• Any valid request for appeal will be submitted to the Approved Auditor Advisory Panel for consideration and determination.

Approved Auditors List