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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Auditor Module (AUD) [VER3/02-17]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • AUD 2.6 Principles for Audit Principals

    • AUD 2.6.1

      The five PrinciplesG set out in this section apply to every Audit PrincipalG .

      Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

      • AUD 2.6.1 Guidance

        1. These PrinciplesG are derived from the fundamental principles published in the Code of Ethics for Professional AccountantsG .
        2. If an Audit PrincipalG breaches a PrincipleG , the DFSAG may consider suspending or withdrawing the registration of the Audit PrincipalG on that basis.
        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

    • Principle 1 — Integrity

      • AUD 2.6.2

        An Audit PrincipalG must be straightforward and honest in all professional and business relationships.

        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

    • Principle 2 — Objectivity

      • AUD 2.6.3

        An Audit PrincipalG must not allow bias, conflict of interest or the undue influence of others to override professional or business judgements.

        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

    • Principle 3 — Professional competence and due care

      • AUD 2.6.4

        An Audit PrincipalG must maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional services based on current developments in practice, legislation and techniques and must act diligently and in accordance with applicable technical and professional standards.

        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

    • Principle 4 — Confidentiality

      • AUD 2.6.5

        An Audit PrincipalG must respect the confidentiality of information acquired as a result of professional and business relationships and, therefore, not disclose any such information to third parties without proper and specific authority, unless there is a legal or professional right or duty to disclose, nor use the information for the personal advantage of the Audit PrincipalG or third parties.

        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]

    • Principle 5 — Relations with the DFSA

      • AUD 2.6.6

        An Audit PrincipalG must deal with the DFSAG in an open and co-operative manner and must promptly disclose to the DFSAG any information of which the DFSAG would reasonably expect to be notified.

        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]