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  • AUD App 4 Safe Custody Auditor's Report

    • AUD A4.1.1

      In producing a Safe Custody Auditor's ReportG , an AuditorG must state as at the date on which the Authorised Firm'sG audited statement of financial position was prepared:

      (a) the extent to which the Authorised FirmG was holding and controlling Client InvestmentsG or Providing CustodyG ; and
      (b) whether:
      (i) the Authorised FirmG has, throughout the year, maintained systems and controls to enable it to comply with the Safe Custody ProvisionsG in COB App6;
      (ii) the Safe Custody InvestmentsG are registered, recorded or held in accordance with the Safe Custody ProvisionsG ;
      (iii) there have been any material discrepancies in the reconciliation of Safe Custody Investments;
      (iv) the AuditorG has received all necessary information and explanations for the purposes of preparing this report to the DFSAG ; and
      (v) any of the requirements of the Safe Custody ProvisionsG have not been met.
      Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]
      [Amended] RM189/2016 (Made 7th December 2016). [VER03/02-17]

      • AUD A4.1.1 Guidance

        1. Where an Authorised FirmG does not hold or control any Client InvestmentsG , Arrange CustodyG or Provide CustodyG as at the date on which the Authorised Firm'sG audited statement of financial position was prepared, the DFSAG expects that such fact be stated to comply with Rule A4.1.1 (a) in this Appendix.
        2. In producing a Safe Custody Auditor's ReportG an AuditorG will need to consider which parts of COB App 6 are relevant to the Authorised FirmG and only include an opinion to the extent relevant to the Authorised Firm'sG activity.
        Derived from DFSA RM130/2014 (Made 21st August 2014). [VER1/06-14]
        [Amended] RM189/2016 (Made 7th December 2016). [VER03/02-17]