dfsa_afngen1_ver6

APPLICATION FORMS AND NOTICES (AFN) GEN1

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Form GEN1 Application for registration as an auditor

Name of applicant

Firms are requested to contact the supervision department of the DFSA (+9714 362 1500) before considering completing an application.

(For DFSA use only)


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Purpose of this form This form must be submitted by an audit firm wishing to apply for registration as an Auditor. An Auditor means a partnership or company that is registered by the DFSA to provide audit services to Authorised Firms and Authorised Market Institutions that are Domestic Firms or to Domestic Funds. 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 1. Contents

This form consists of seven sections: 1. Audit firm details 2. Anti Money Laundering 3. Fit & proper questionnaire for AMLO 4. Fit & proper questionnaire for audit firm 5. Disclosure to DIFCA 6. Declaration 7. Payment of Fees 8. Attachments

Notes for completing this form

Defined terms are identified throughout this form by the capitalisation of the initial letter of a word or phrase and are defined in the Glossary module (GLO) of the DFSAs Rulebook.

All sections must be completed. Questions must be fully answered and the use of abbreviations should be avoided. Do not leave any questions blank if a question is not applicable this should be indicated in the

response section. Answers must be typed and the form must be signed by a Director/Partner and the Anti Money

Laundering Officer (if different). Please ensure any supporting documentation is clearly labelled and securely attached.


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1. AUDIT FIRM DETAILS

1.1 Full or proposed name of audit

firm to be registered

1.2 Address of audit firm (include

both office and postal address) (Please indicate if current or proposed)

(Note: The office and postal addresses will be the addresses used for service of notices and correspondence. If the audit firm does not have a U.A.E. address then it will be asked to supply a U.A.E. address where service can be effected) 1.3 Audit firms head office if

applicant is a branch office

1.4 Name of audit firms other

branches and addresses

1.5 Main telephone number of

address in 1.2 (incl. country and area codes)

1.6 Main fax number of address in

1.2 (incl. country and area codes)

1.7 Website address (if applicable) 1.8 Audit firms contact person for

this application

Position/title

Correspondence address (if different from 1.2 above)

Telephone number:

Fax number

E-mail address


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1.9 Please provide details of any adviser engaged by the audit firm 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

1.10 Legal nature of audit firm

(Note: only companies, Limited Liability Partnerships and General Partnership may apply)

1.11 Date and place of incorporation

/formation of the audit firm

Note: Please attach a copy of the applicants certificate of incorporation/company registration/partnership agreement (as applicable). If in the process of being formed, please state in formation 1.12 Details of ownership of audit firm

(if insufficient space please attach additional sheets)

1.13 Background and history of audit firm (if insufficient space please attach additional sheets)

1.14 Please detail the resources to be used to conduct DFSA audits (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)


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1.15 Please provide your firms approach to ensuring continuing professional development provided for

employees including audit principals (if insufficient space please attach additional sheets)

1.16 Please list the names and details of the Partners / Directors of the audit firm who will be the Audit

Principals for audits of DFSA Authorised Firms and Authorised Market Institutions that are Domestic Firms or Domestic Funds. (Rule 8.9.3 of Gen requires that Audit Principals as a minimum hold a Recognised Professional Qualification; have at least 5 years of relevant audit experience of the last 7 years and be a current member in good standing of a Recognised Professional Body)

Audit Principal No.1 Full Name:

Recognised Professional Qualifications:

Details of audit experience:

Recognised Professional Memberships:


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If insufficient space or more Audit Principals will be involved please attach a separate appendix or additional sheets as necessary. 1.17 Please provide details of professional indemnity insurance

Before registration, the audit firm will need to demonstrate that it holds adequate professional indemnity insurance covering, amongst other things, fraud committed by the audit firms employees.

Please attach a copy of the audit firms insurance certificate or cover note.


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1.18 Has the audit firm 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 copy of any findings.

1.19 Do the audit firms systems, procedures and controls ensure compliance with the International

Standards on Auditing (ISAs) as issued by IAASB of IFAC (or where applicable Auditing Standards for Islamic Financial Institutions as issued by AAOIFI)? (Please provide a copy of the firms 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 IASs or ASIFOs). 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.

1.20 Does the audit firms 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 firms current quality control policies and procedures. If the firms quality control policies and procedures are integrated into its internal IT systems please provide a summary of how the policies and procedures comply with International Standard on Quality Control (ISQC) 1. The DFSA may wish to inspect the IT systems to verify compliance)

Yes No


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If No, please provide details of where system do not comply.

1.21 Does the audit firm have in place adequate systems, procedures and controls to ensure due

compliance with the Code of Ethics for Professional Accountants issued by the Ethics Standards Board for Accountants (or where applicable the Code of Ethics for Accounting and Auditors for Islamic Financial Institutions issued by AAOIFI)? Please provide a copy of the firms current systems, procedures and controls.Note: If the firms systems, procedures and controls are integrated into its internal IT systems please provide a summary of how the systems, procedures and controls comply with the Code of Ethics. 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.

1.22 Do you have a letter of intent (see below) from one of your proposed clients who is or is an applicant to be licensed by the DFSA as a Domestic Authorised Firm, Domestic Authorised Market Institution

or a Domestic Fund? Yes No If YES please attach a copy. If NO please obtain the letter of intent before submitting this application. Registered Auditor status will only be granted to Auditors of DFSA regulated entities. Prior to registration as an Auditor, an audit firm may market services to regulated firms, but may not commence the provision of such services. An audit firm shall not accept a mandate from a regulated entity to provide audit services within the DIFC (nor accept appointment to a tender panel for the provision of such services) until registered as an Auditor. Application for such registration must include written evidence or letter of intent from a regulated entity of its intention to retain the professional services of the audit firm (or appoint the audit firm to a tender panel for the provision of such services).


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2. ANTI MONEY LAUNDERING 2.1 Please attach the audit firm's Anti Money Laundering (AML) policies, procedures, systems

and controls. These must be specific to its DIFC activities and comply with the ASP AML Rules of the DFSA including an overview of the audit firms anti Money Laundering function, staffing levels, responsibilities and reporting lines. The audit firms procedures should include, amongst other things, arrangements to:

a) ensure compliance with the UAE Law No.4 and any other relevant UAE federal laws; b) monitor for, detect and report suspicious customers and Transactions; Note: Audit firms

should ensure the procedures comply with the requirement for Suspicious Transaction Reports (STRs) to be made in the required format to the Anti Money Laundering Suspicious Cases Unit (AMLSCU), and a copy provided to the DFSA. Details of the required format of the report and details for submission can be found on the DFSA website;

c) establish and verify the identity of the customer and any other person on whose behalf the customer is acting, including that of the beneficial owner; unless exception applies (6.5)

d) provide an audit trail of STRs; e) determine the duties and obligations of its Anti Money Laundering Officer (AMLO); f) review the effectiveness of its AML policies, procedures, systems and controls at least

annually; g) respond to any request for information made by competent U.A.E. authorities or the DFSA; h) maintain AML relevant documents and records; i) ensure that it obtains and makes use of findings in relation to names of persons, groups,

organisations or entities, or any other body where suspicion of Money laundering or terrorist financing exists; Be mindful of Government; regulatory and international findings

j) assess its risks in relation to money laundering and to perform enhanced due diligence investigations for higher risk products, services and customers;

k) determine whether a customer is a Politically Exposed Person (PEP); l) establish and maintain an AML training programme and awareness arrangements; and m) ensure compliance with any other obligation in the DFSA's ASP module.

2.2 Anti Money Laundering Officer (AMLO)

2.2.1 Family name/other names

2.2.2 Date of birth (DD/MM/YYYY)

2.2.3 Place of birth


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2.2.4 Passport(s) number(s)

2.2.5 Please state the country(ies) and place(s) of issue of the applicants passport(s)

Please attach a copy of all passports held by the AMLO, including copies of any current visas. 2.2.6 Job title/level within the firm

Please attach a detailed job description clearly outlining the AMLOs role and responsibilities within the firm and attach details of the AMLOs employment record for the previous 10 years highlighting any experience relevant to the role of AMLO. 2.2.7 Residential address

2.2.8 Dates resident at above address (from/to)

2.2.9 Previous address if less than 3 years at above address

2.2.10 Contact details Telephone

Fax

E-mail

2.2.11 What steps will be taken by the audit firm to ensure that the AMLO will be fully aware of his or

her duties and be able to carry out these duties effectively? Please provide details.

2.2.12 Do another jurisdiction's laws or Regulations prevent or inhibit the audit firm from complying

with the U.A.E. Law No.4 or the DFSA Rules?

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. FIT & PROPER QUESTIONNAIRE FOR AMLO 3.1 Please complete the following questionnaire in relation to the proposed AMLO

Answers must be provided to every question. Has the applicant AMLO: 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 a 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 or

Accounting 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 AUDIT FIRM

4.1 Please complete the following questionnaire in relation to the audit firm Answers must be provided to every question.

Has the audit firm: 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. DECLARATION 6.1 Declaration by the audit firm (senior partner or equivalent) 6.1.1 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.

6.1.2 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.

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

services. 6.1.4 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.

6.1.5 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.


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Name of a Director/Partner

/ /

Signature of a Director/Partner

Date

Name of the AMLO if different from above

/ /

Signature of the AMLO if not signed above Date

7. 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 Fees 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

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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8. ATTACHMENTS

Section Document Attached?

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

1.7 Professional Indemnity Insurance Certificate Y N N/A

1.22 Letter of Intent from Authorised Firm or Authorised Market Institution Y N N/A

1.18 Copy of findings Y N N/A

1.19 Copy of systems, procedures and controls in relation to International Auditing Standards / Auditing Standards for Islamic Financial Institutions

Y N N/A

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

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

2.1 Anti Money Laundering procedures Y N N/A

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

2.2.6 AMLO job description Y N N/A

2.2.6 AMLO employment details for the last 10 years Y N N/A

3 Fit & Proper questionnaire AMLO Y N N/A

4 Fit & Proper questionnaire Audit Firm Y N N/A

Other Please list Y N N/A

Y N N/A

Please return completed form to: DUBAI FINANCIAL SERVICES AUTHORITY SUPERVISION DEPARTMENT LEVEL 13, THE GATE BUILDING DUBAI INTERNATIONAL FINANCIAL CENTRE PO BOX 75850 DUBAI, UAE

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